Ironwood Pharma Upped to Strong Buy - Analyst Blog
January 03 2013 - 9:14AM
Zacks
On January 2, 2013, Zacks Investment Research upgraded
Ironwood Pharmaceuticals, Inc.’s (IRWD) to a Zacks
#1 Rank (Strong Buy).
Why the Upgrade?
Ironwood Pharma has been buoyed by a string of good news lately.
On December 17, 2012, Ironwood Pharma and partner Forest
Laboratories, Inc. (FRX) announced the US launch of their
drug Linzess (linaclotide). The launch followed the approval of the
drug by the US Food and Drug Administration (FDA) in August 2012
for the treatment (once-daily) of adults suffering from irritable
bowel syndrome with constipation (IBS-C) or chronic idiopathic
constipation (CIC).
In the EU, approval came in November 2012 under the trade name
Constella. Ironwood Pharma is collaborating with Almirall, S.A. in
EU for the drug. Ironwood Pharma is also working with its Japanese
partner, Astellas Pharma Inc. for the development of linaclotide in
Japan and other Asian countries.
Furthermore, Ironwood Pharma performed impressively in the third
quarter 2012. On October 16, Ironwood Pharma reported third quarter
earnings of 42 cents, which compared favorably with the year-ago
loss of 21 cents per share and the Zacks Consensus Estimate of 15
cents.
All the positive factors mentioned above have contributed to the
Zacks Consensus Estimate being narrowed to a loss of 81 cents from
a loss of $1.21 over the last 90 days. For 2013, the Zacks
Consensus Estimate has been revised to a loss of $2.22 per share
from a loss of $2.38 over the same time period.
Other Stocks to Consider
The following pharma companies with favorable Zacks Rank are
also performing well and are worth considering.
1) Valeant Pharmaceuticals International, Inc.
(VRX) carries a Zacks #1 Rank (Strong Buy)
2) Novo Nordisk (NVO) holds a Zacks #2 Rank
(Buy)
FOREST LABS A (FRX): Free Stock Analysis Report
IRONWOOD PHARMA (IRWD): Free Stock Analysis Report
NOVO-NORDISK AS (NVO): Free Stock Analysis Report
VALEANT PHARMA (VRX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Forest Road Acquisition (NYSE:FRX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Forest Road Acquisition (NYSE:FRX)
Historical Stock Chart
From Jul 2023 to Jul 2024