Stephen Simpson, CFA
Tue, Apr. 5, 8:53 AM
- Ironwood Pharmaceuticals (NASDAQ:IRWD) slumps 6.5% premarket, albeit on only 1,400 shares, in response to its announcement that it has stopped development of IW-9179 for the treatment of diabetic gastroparesis (DP) after top-line results from a 90-subject Phase 2a study failed to show a meaningful treatment benefit over and above placebo.
- The company intends to focus its efforts three key areas: irritable bowel syndrome with constipation/chronic idiopathic constipation, vascular and fibrotic disease and refractory gastroesophageal reflux disease.
- Read now Ironwood Has Plenty Of Market Development Work Ahead
Jun. 17, 2015, 9:22 AM
- Ironwood Pharmaceuticals (NASDAQ:IRWD) slumps 5% in premarket trading on robust volume. Investors apparently perceive less rosy prospects for Ironwood's CIC candidate linaclotide after Synergy Pharmaceuticals (NASDAQ:SGYP) reported successful Phase 3 results for plecanatide this morning.
- Previously: Synergy Pharma's plecanatide successful in late-stage trial; shares up 50% premarket (June 17)
Mar. 13, 2015, 5:40 PM
Feb. 13, 2015, 5:36 PM
Jul. 11, 2014, 5:35 PM
Jan. 10, 2014, 10:43 AM
- Ironwood Pharmaceuticals (IRWD +4.9%) upgraded to Outperform from Market Perform at BMO. Price target is $16.
- Bristol-Myers Squibb (BMY +0.7%) upgraded to Overweight from Equalweight at Barclays. Price target hiked to $65 from $52.
- Sequenom (SQNM -3.4%) cut to Neutral from Overweight at Piper. Price target is $2.50.
- BioMarin (BMRN -2.2%) cut to Equalweight from Overweight at Barclays. Price target is $73.
- Johnson & Johnson (JNJ -0.5%) cut to Equalweight from Overweight at Barclays. Price target is $99.
- Pfizer (PFE -0.6%) cut to Market Perform at Cowen. Price target is $34.
- Eli Lilly (LLY -0.4%) downgraded to Underweight from Equalweight at Barclays. Price target cut to $51 from $58.
- H.C. Wainwright starts Celsion (CLSN +7.7%) at Buy. Price target is $8.
- Orexigen (OREX +1.1%) initiated at Buy with a $9 target at Wallachbeth.
Oct. 11, 2013, 5:36 PM
Sep. 17, 2013, 10:54 AM
- 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.
Sep. 11, 2013, 11:47 AM| Sep. 11, 2013, 11:47 AM
Aug. 9, 2013, 10:52 AM
Jul. 24, 2013, 10:18 AM
Ironwood Pharmaceuticals (IRWD +3.5%) rises after Janney Montgomery upgrades the shares to Buy (PT, $15) and Cantor's Irina Rivkind says the "Sell thesis has played out." Regarding the company's Q2 beat Rivkind says "JV and R&D costs were lower than expected" and notes Linzess sales were higher than forecast. (previous)| Jul. 24, 2013, 10:18 AM
Jul. 23, 2013, 9:15 AM
Jul. 23, 2013, 7:49 AM
More on Ironwood Pharmaceuticals' (IRWD) Q2: Linzess sales come in at $28.8M, up more than five fold from Q1; there were ~125K prescriptions filled during the period. The company, along with Forest Labs, is exploring "additional development opportunities to strengthen the clinical profile of Linzess." The two companies plan to report data from a Phase IIIb trial evaluating the drug on CIC patients' abdominal symptoms in Q3 and expect "to initiate U.S. clinical trials" for other indications in Q1 2014. IRWD reaffirms FY13 total sales and marketing expenses of $250-300M for the drug. Shares +10.65% premarket. (PR)| Jul. 23, 2013, 7:49 AM | 1 Comment
May 22, 2013, 1:34 PM
Ironwood Pharmaceuticals (IRWD -5%) slips after pricing its previously announced 10.5M share offering at $13 per share. All shares are being offered by the company, and proceeds are expected to be around $136.5M. The company intends for net proceeds to support the commercial launch of Linzess as well as support general research and development within the Company's pipeline.| May 22, 2013, 1:34 PM
Apr. 24, 2013, 12:13 PM
Ironwood Pharmaceuticals (IRWD -3.5%) (which yesterday reported a Q1 miss and underwhelmed with sales of its IBS drug Linzess) falls again as Morgan Stanley downgrades to Equal-Weight despite projecting "a competitive cost/benefit" Linzess profile. Meanwhile, Wedbush's Gregory Wade downgrades the shares to Underperform. "Can you help us understand where the money is going?" Wade asked on the call, referring to ongoing Linzess-related R&D expenditures that appear to be more than 5X his estimates. "It's really just the cost of operating the business," CFO Michael Higgins responded. (transcript)| Apr. 24, 2013, 12:13 PM
Apr. 23, 2013, 11:06 AMIronwood Pharmaceuticals (IRWD -4.5%) slides on a big Q1 miss this morning. Revenue dropped 73% Y/Y on weak sales of its IBS drug Linzess, while losses widened significantly as its bottom line was hit hard by a 92% rise in total costs - due largely to the rollout of Linzess - and an 11% jump in R&D expenses. | Apr. 23, 2013, 11:06 AM