Wedbush Downgrades Ironwood Pharmaceuticals (IRWD) to Underperform; Launch Expenses Leads to Significant Anticipated Funding Gap
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Price: $4.31 +5.64%
Rating Summary:
11 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush downgraded Ironwood Pharmaceuticals (NASDAQ: IRWD) from Outperform to Underperformm, price target slahsed from $20 to $8.
Wedbush analyst says, "After reviewing management’s expense guidance, we now view IRWD as requiring significant, additional financing(s) in order to maintain cash at or above $100 million, before reaching cash flow breakeven in H2:15...We fully expect significant selling pressure on the stock with or without FDA approval and therefore see no reason to own IRWD’s shares at these levels."
Wedbush slashes FY12 EPS estimate from (0.20) to (1.03) and FY revs from $1.33M to $36.0M.
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 $14.07 yesterday.
Wedbush analyst says, "After reviewing management’s expense guidance, we now view IRWD as requiring significant, additional financing(s) in order to maintain cash at or above $100 million, before reaching cash flow breakeven in H2:15...We fully expect significant selling pressure on the stock with or without FDA approval and therefore see no reason to own IRWD’s shares at these levels."
Wedbush slashes FY12 EPS estimate from (0.20) to (1.03) and FY revs from $1.33M to $36.0M.
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 $14.07 yesterday.
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