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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.

Latest Ratings for IRWD

DateFirmActionFromTo
Jan 2016Mizuho SecuritiesInitiates Coverage onBuy
Dec 2015BTIG ResearchInitiates Coverage onBuy
May 2015Leerink SwannMaintainsMarket Perform

View More Analyst Ratings for IRWD
View the Latest Analyst Ratings

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

 

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