Jefferies analyst Amy Li downgraded Ironwood (IRWD) to Hold from Buy with a price target of 70c, down from $8, after the FDA said the company will likely need another confirmatory Phase 3 trial for apraglutide. The firm cites the regulatory setback for the downgrade and wants more clarity on the path forward before recommending the shares.
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Read More on IRWD:
- Hold Rating on Ironwood Pharma Amid FDA Trial Requirements and Strategic Uncertainties
- Ironwood downgraded to Equal Weight from Overweight at Wells Fargo
- Wells downgrades Ironwood to Equal Weight on ‘major setback’
- Ironwood price target lowered to $1 from $3 at Leerink
- Citizens JMP downgrades Ironwood on delayed apraglutide launch