Jefferies Starts Ironwood Pharmaceuticals (IRWD) at Hold

May 15, 2012 6:59 AM EDT Send to a Friend
Get Alerts IRWD Hot Sheet
Price: $13.09 +0.31%

Rating Summary:
    8 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 13 | New: 40
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Jefferies initiates coverage on Ironwood Pharmaceuticals (NASDAQ: IRWD) with a Hold. PT $13.00.

The firm comments, "We're bullish on linaclotide's prospects, but after a deep dive into IRWD's JV w/ FRX and a cautious view on new product launches, Street estimates seem a bit high to us. Based on our below consensus numbers, IRWD could be an Underperform, but with a Sept. '12 FDA approval that could lift the stock, and a DCF that highlights the value of what we expect to be a solid, long duration asset in linaclotide, we initiate at Hold and a $13 PT."

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 $13.20 yesterday.


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