Wedbush Upgrades Ironwood Pharmaceuticals (IRWD) to Neutral
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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 upgraded Ironwood Pharmaceuticals (NASDAQ: IRWD) from Underperform to Neutral with a price target of $12.00 after adjusting estimates for the recently completed finance and Linzess script metrics.
"Based on week-over-week script growth that is ahead of our expectations we
are raising our forward four quarters LINZESS net sales estimates to $36.0M,
$52.6M, $65M and $75M from $28.6M, $34.5M, $42.3M and $88.2M," analyst Gregory R. Wade notes.
He continued, "Taking into account our raised estimates, we are revising our estimate of the balance sheet gap to profitability down to $150M from $200M and removing future equity financings from our share count expectations, believing that
IRWD will be able to access these funds from the debt markets and other sources."
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 $13.07 yesterday.
"Based on week-over-week script growth that is ahead of our expectations we
are raising our forward four quarters LINZESS net sales estimates to $36.0M,
$52.6M, $65M and $75M from $28.6M, $34.5M, $42.3M and $88.2M," analyst Gregory R. Wade notes.
He continued, "Taking into account our raised estimates, we are revising our estimate of the balance sheet gap to profitability down to $150M from $200M and removing future equity financings from our share count expectations, believing that
IRWD will be able to access these funds from the debt markets and other sources."
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 $13.07 yesterday.
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