IRWD - Ironwood Pharmaceuticals initiated at overweight at Piper on cash flow from Linzess

Piper Sandler has initiated Ironwood Pharmaceuticals (NASDAQ:IRWD) at overweight citing the success of the company's irritable bowel syndrome drug Linzess (linaclotide). The firm has a $16 price target (~36% upside based on Thursday's close). Analyst David Amsellem said that Linzess has three things going for it: market leadership, stable commercial dynamics, and exclusivity through March 2029. He added that shares have a limited downside risk as Linzess is now a more than $1B franchise in the U.S. Ironwood (IRWD) markets the drug with AbbVie (ABBV). Amsellem noted that Ironwood (IRWD) is projecting Linzess U.S. sales growth this year in the low-single digits. Check out why Seeking Alpha's Quant Rating views Ironwood (IRWD) as a hold.

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Ironwood Pharmaceuticals initiated at overweight at Piper on cash flow from Linzess