Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Ironwood (IRWD) to $7 from $12 and keeps an Overweight rating on the shares. The firm says OpEx savings may not be enough to offset continued Linzess pricing pressure in near term. Although, inclusion of new data in Apra NDA submission could be positive for the label, Wells adds. Apra still remains the key reason to own the stock, the firm argues.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IRWD:
- American Air flight crashes in D.C., Microsoft reports Q2 beat: Morning Buzz
- Ironwood price target lowered to $7 from $8 at Craig-Hallum
- Ironwood price target lowered to $14 from $23 at JMP Securities
- Ironwood Pharma Announces Major Workforce Cuts and CFO Change
- Ironwood initiates apraglutide NDA submission