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UPDATE: Cantor Fitzgerald Raises PT to $8 on Ironwood Pharmaceuticals; Maintains Sell

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Cantor Fitzgerald reiterated its Sell rating on Ironwood Pharmaceuticals, (NASDAQ: IRWD) but raised its price target from $7 to $8 ahead of the Linaclotide PDUFA.

Cantor Fitzgerald said, "We reiterate our SELL rating going into the Linaclotide PDUFA: We remain cautiously optimistic about a first pass approval (we estimate 70% probability) but maintain that the stock is overvalued and could sell off even under a best- case scenario (since investors may play the event and then exit the stock post- approval due to lack of pending positive catalysts)."

Ironwood Pharmaceuticals closed at $12.29 on Friday.

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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