Wedbush Upgrades Ironwood Pharmaceuticals (IRWD) to Neutral

February 13, 2013 8:11 AM EST
Get Alerts IRWD Hot Sheet
Price: $15.04 -4.02%

Rating Summary:
    10 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Wedbush upgraded Ironwood Pharmaceuticals (NASDAQ: IRWD) from Underperform to Neutral with a price target of $13.00 (from $11.00).

The analyst comments, "Early scipt data for Q1:13 (5 weeks) suggests strong week-over-week LINZESS performance (20,000+ pills per week growth), which, if sustained, would see Q1 and FY:13 end-user demand well ahead of our initial conservative estimates. We are adjusting sales and expense numbers and, as a consequence of our revised outlook, are removing our expectation that IRWD will require an additional $100M equity financing (although additional cash to bolster the balance sheet continues to be in our expectations)."

For an analyst ratings summary and ratings history on Ironwood Pharmaceuticals click here. For more ratings news on Ironwood Pharmaceuticals click here.

Shares of Ironwood Pharmaceuticals closed at $13.67 yesterday.

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