Jefferies Starts Ironwood Pharmaceuticals (IRWD) at Hold

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.

---

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

---

You May Also Be Interested In

• Jefferies Starts Aehr Test Systems (AEHR) at Buy
• Leerink Starts Ligand Pharma (LGND) at Outperform
• Raymond James Starts SpyGlass Pharma (SGP) at Outperform