Ironwood Pharmaceuticals said sales of its new constipation drug Linzess totaled $19.2 million in the fourth quarter, though that was not enough to offset higher costs. Ironwood lost $43.9 million, or 41 cents per share, as sales and administrative costs more than doubled to $33.3 million. A year earlier the company took a loss of $7 million, or 7 cents per share. An analyst at UBS downgraded the stock to “sell,” saying expectations for it are too high, and set an $11.50 price target.
Ironwood suffers a ratings downgrade
You have reached the limit of 10 free articles a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than $1 a week