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IRWD

Ironwood

$19.19

-0.25 (-1.29%)

08:09
08/06/18
08/06
08:09
08/06/18
08:09

Ironwood: On track to complete separation into two companies in 1H19

"Ironwood's performance during the second quarter was driven by year-over-year topline growth of approximately 25%, continued strong LINZESS demand, initiation of Phase III programs for IW-3718 and linaclotide, and further enrollment in Phase II trials for praliciguat and olinciguat," said Peter Hecht, CEO of Ironwood. "In addition, during the second quarter we announced our intent to separate into two independent, publicly traded companies, each with focused missions and opportunities for significant growth. We have made substantial progress and remain on track to complete the separation in the first half of 2019." Following the separation, Ironwood anticipates being a profitable company leveraging its core expertise in GI diseases to advance a strong portfolio of in-market and development programs, including LINZESS, IW-3718 and linaclotide delayed release. Following completion of the separation, the plan is for the two companies to have separate, non-overlapping boards of directors and independent governance structures. It is also expected that there will be no ongoing funding between the two new companies following the separation, other than certain shorter-term transition and other services.

  • 06

    Aug

IRWD Ironwood
$19.19

-0.25 (-1.29%)

05/09/18
05/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crocs (CROX) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying he believes the stock has "adequately" re-rated to discount fiscal 2019 earnings power. 2. Monster Beverage (MNST) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying she sees a "difficult road ahead" for the company following its first quarter results. 3. Adient (ADNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Armintas Sinkevicius saying that recent management commentary appears to have taken the potential for strategic action involving the underperforming metals business off the table. 4. Ironwood (IRWD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lebowitz saying he believes management's target of Linzess U.S. sales exceeding $1B by 2020 could be a challenge given the recent deceleration in volume growth. 5. Papa John's (PZZA) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying he is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/18
WELS
05/30/18
NO CHANGE
Target $22
WELS
Outperform
Ironwood price target raised to $22 from $18 at Wells Fargo
Wells Fargo analyst David Maris raised his price target on Ironwood to $22 and kept his Outperform rating, saying he is updating his model following the company's Q1 earnings as well as its announcement of separating its soluble guanylate cyclase business. While the analyst also lowers his FY18 EPS view to (67c) from (38c) to reflect the separation, he adds that future commercial/GI-focused IRWD earnings should no longer be depressed by R&D spending on the sGC assets.
07/18/18
COWN
07/18/18
DOWNGRADE
COWN
Market Perform
Ironwood downgraded to Market Perform from Outperform at Cowen
07/23/18
HCWC
07/23/18
INITIATION
Target $12.5
HCWC
Sell
Ironwood initiated with a Sell at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju started Ironwood Pharmaceuticals with a Sell rating and $12.50 price target. The shares are overvalued given the gradually slowing sales of Linzess, the lackluster performance of linaclotide in outside the U.S. markets, commercial disappointments with the company's gout franchise and recent clinical setbacks with itts development-stage candidates beyond Linzess, Selvaraju tells investors in a research note.

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