Down 7% in 2023, This Struggling Growth Stock Could Soon Make a Turnaround
Despite having a successful drug on the market and making a major acquisition recently, share prices of Ironwood Pharmaceuticals (NASDAQ: IRWD) are down by 7% this year so far. Wall Street analysts take a gloomy view of its future, with average estimates calling for less than 5% sales growth in both 2023 and 2024. Management's revenue guidance largely agrees.
But there's hope for a turnaround just over the horizon. Let's explore how that could work and then judge whether the stock is worth buying based on the findings.
Ironwood is a biotech that's stuck in an awkward spot. It's experiencing plateauing growth from its medicines in the market while also being unable to tap into near-term opportunities to commercialize new medicines and give growth a boost.
Source Fool.com
