.jpg "Ironwood Pharma (NASDAQ: IRWD)")
Mizuho Securities analyst Irina Rivkind Koffler maintained a Buy rating on Ironwood Pharma (NASDAQ: IRWD) today and set a price target of $25. The company’s shares closed on Friday at $19.19.
Rivkind Koffler observed:
“We note that partner Allergan reported Linzess top-line sales of $191.8M vs. Bloomberg consensus expectations of $185.5M and pills sold grew +13.7% Y/Y in the quarter. Ironwood finally terminated its license on this program with AstraZeneca, and announced a 125-person staff reduction. We previously cut these sales from our model and lowered SG&A expense by ~$54M in 2019 in anticipation of this move, but Ironwood guided to higher savings of $75-100M, which represents upside to our model for the commercial company. Ironwood did not lower its long-term revenue guidance for a 25% CAGR from 2016-2020, which we believe included upside from gout.”
According to TipRanks.com, Koffler is a 5-star analyst with an average return of 12.3% and a 49.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Eagle Pharmaceuticals Inc, and Pacira Pharmaceuticals.
Currently, the analyst consensus on Ironwood Pharma is a Hold with an average price target of $18.30.
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Based on Ironwood Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $43.14 million. In comparison, last year the company had a GAAP net loss of $44.22 million.
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Ironwood Pharmaceuticals, Inc. operates as commercial biotechnology company, which discovers, develops and commercializes differentiated medicines that improve patient’s lives. Its products include linaclotide, a guanylate cyclase type-C agonist being developed for the treatment of patients with irritable bowel syndrome with constipation and chronic constipation; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout. The company was founded by Peter M. Hecht, Eric F. Summers, G. Todd Milne, Brian M. Cali, Joseph C. Cook, Jr. and Gina Bornino Miller on January 5, 1998 and is headquartered in Cambridge, MA.
