Ironwood Pharmaceuticals Receives Outperform Rating from Zacks (IRWD)
Posted by John Perry on Oct 18th, 2013 // No Comments
Ironwood Pharmaceuticals Inc. logoZacks reiterated their outperform rating on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research report sent to investors on Wednesday morning, American Banking & Market News reports. The firm currently has a $13.00 price target on the stock.
Zacks’ analyst wrote, “We are initiating coverage on Ironwood with an Outperform recommendation and a target price of $13.00. Linzess’ approval for irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) was a major milestone for the company. We are encouraged by Ironwood’s efforts to expand Linzess’ label to include other indications such as opioid-induced constipation. We are also positive on Ironwood’s partnerships with big pharma companies for the development and commercialization of Linzess in different territories. We believe that the company is well positioned to gain share in the IBS-C market. Based on these factors, we believe the current price represents an attractive entry point for long term investors. “