UPDATE - UBS Initiates Coverage on Ironwood Pharma (IRWD) with a Neutral; Sidelined Heading Into PDUFA
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Price: $12.83 +2.48%
Rating Summary:
6 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade IRWD Now!
UPDATE - UBS initiates coverage on Ironwood Pharma (Nasdaq: IRWD) with a Neutral. PT $14.
Analyst, Matthew Harrison, said, "We believe Ironwood’s key product, linaclotide, has significant potential for the treatment of irritable bowel syndrome (IBS-C) and chronic constipation (CC). However, with the market implying ~$2B in 2020E sales, we believe expectations are high and we can’t justify higher sales at this
point. Further, while M&A is possible, we believe Forest (NYSE: FRX) (the likely acquirer) will wait to see launch trends before bidding, thus near-term upside is limited and offset by high spending to support a primary care launch and significant capital needs (we estimate $435M over through 2.014E)."
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Analyst, Matthew Harrison, said, "We believe Ironwood’s key product, linaclotide, has significant potential for the treatment of irritable bowel syndrome (IBS-C) and chronic constipation (CC). However, with the market implying ~$2B in 2020E sales, we believe expectations are high and we can’t justify higher sales at this
point. Further, while M&A is possible, we believe Forest (NYSE: FRX) (the likely acquirer) will wait to see launch trends before bidding, thus near-term upside is limited and offset by high spending to support a primary care launch and significant capital needs (we estimate $435M over through 2.014E)."
To see more ratings on IRWD, Click Here
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