Ironwood Pharma (IRWD) Tops Q3 EPS by 2c; Initiates Phase III Trial of 72 mcg Linaclotide

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Cantor Fitzgerald Downgrades Ironwood Pharmaceuticals (IRWD) to Sell

November 6, 2014 7:35 AM EST

Cantor Fitzgerald downgraded Ironwood Pharmaceuticals (NASDAQ: IRWD) from Hold to Sell with a price target of $10.00 (from $11.00). Analyst Irina Rivkind Koffler sees downside as sentiment deteriorates.

"We are lowering our PT to $10 from $11 based on DCF valuation since we assume increased R&D expense in 2015. More importantly, we believe that sentiment may turn even more negative if risky clinical programs fail and there is heightened... More