- Goldman becomes the second firm in a week to suggest estimates for Ironwood's (IRWD -1.2%) Linzess may be too high. (see Mizuho slashes Linzess revenue target)
- "Linzess has a very strong profile [but] based on a physician survey we believe consensus expectations are too aggressive and will likely have to come down over time," Goldman says, initiating IRWD at Sell.
- The firm also says IRWD exhibits "high spending levels and significant cash burn [which could lead to] profitability getting pushed out and the possibility for additional financing required in 1-2 years."
- Price target is $9.50.