Mizuho Securities analyst Irina Rivkind Koffler reiterated a Buy rating on Ironwood Pharma (NASDAQ: IRWD) today and set a price target of $24. The company’s shares opened today at $17.61.
Rivkind Koffler observed:
“We remain encouraged by Allergan’s continued interest in GI that was highlighted at a recent investor conference yesterday, and believe that Ironwood’s split “commercial company” could be an attractive opportunity in 2019 if Allergan could generate cost synergies, and utilize Ironwood’s $1.1B in NOLs. IRWD has sold off its highs and we reiterate our Buy rating and $24 PT.”
According to TipRanks.com, Koffler is a 5-star analyst with an average return of 13.3% and a 49.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Adamas Pharmaceuticals, and Eagle Pharmaceuticals.
Currently, the analyst consensus on Ironwood Pharma is Moderate Buy and the average price target is $20.33, representing a 15.4% upside.
In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $20 price target.
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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 $52.5 million.
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Ironwood Pharmaceuticals, Inc. operates as a commercial biotechnology company, which discovers, develops and commercialize 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.
