Cantor Fitzgerald Starts Ironwood Pharmaceuticals (IRWD) at Hold; The Waiting Is The Hardest Part

Cantor Fitzgerald initiates coverage on Ironwood Pharmaceuticals (NASDAQ: IRWD) with a Hold. PT $12.00.

Cantor analyst said, "We believe that Linaclotide (a Phase III drug for chronic constipation and IBS) has blockbuster potential, but the crux of our investment thesis is that Ironwood has partnered away a significant portion of the product’s revenue streams. We estimate peak U.S. Linaclotide sales of $2.8B, EU sales of $0.7B, and Japan sales of $311M. We expect Ironwood to receive revenues of $1.34B from these three key markets (~35%)."

"We expect some volatility around the FDA panel in 2Q:12 and a selloff
following Linaclotide U.S. FDA approval, and we believe that the company
may need a financing event by the end of 2012. Management stated that it should not need access to cash until 2014."

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 $11.94 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Cantor Fitzgerald Downgrades Better Home & Finance Holding (BETR) to Neutral
• UBS Starts Schrodinger (SDGR) at Neutral
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating