Tim Chiang, an analyst from Capital One Financial, maintained the Buy rating on Ironwood Pharma (IRWD – Research Report). The associated price target was lowered to $12.00.
Tim Chiang has given his Buy rating due to a combination of factors including Ironwood Pharmaceuticals’ solid positioning within the gastrointestinal area and its key product LINZESS. Despite a recent unexpected miss on first-quarter earnings and a downward adjustment in financial guidance for 2024, Chiang believes there is an upside potential. The company’s key product continues to be a primary treatment for IBS and chronic constipation, and it maintains a strong commercial presence.
The outlook is bolstered by promising clinical data on apraglutide, a treatment for short bowel syndrome with potential to meet significant unmet medical needs. Phase 3 study results have been positive, showing apraglutide’s efficacy and tolerability. These factors, combined with upcoming detailed data presentations, support the optimistic perspective on Ironwood Pharmaceuticals’ stock, leading to the Buy rating despite recent financial adjustments.
Chiang covers the Healthcare sector, focusing on stocks such as Jasper Therapeutics, Ironwood Pharma, and EyePoint Pharmaceuticals. According to TipRanks, Chiang has an average return of -13.2% and a 37.45% success rate on recommended stocks.
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Ironwood Pharma (IRWD) Company Description:
Ironwood Pharmaceuticals, Inc. is a commercial biotechnology company, which engages in the discovery, commercialization, and development of medicines. Its products include linaclotide, a guanylate cyclase type-C agonists which treats patients irritable bowel syndrome with constipation and chronic constipation. 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 Boston, MA.
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