Business

Mass Movers

Ironwood suffers a ratings downgrade

Ironwood Pharmaceuticals is based in Cambridge.
David L. Ryan/Globe Staff/File 2012
Ironwood Pharmaceuticals is based in Cambridge.

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.

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