Ironwood price target lowered to $7 from $8 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Ironwood (IRWD) to $7 from $8 and keeps a Buy rating on the shares. In the firm’s most recent note, Craig-Hallum called out what it thought were underestimated headwinds from the Part D redesign. The firm believed there could be as much as a 20% net pricing headwind in 2025 on the brand that the Street was largely not considering. This proved true, but Craig-Hallum underestimated the impact to the Ironwood top line.