Bank of America Raises PT on Ironwood Pharmaceuticals on Positive Prescription Data

Bank of America has published a research report on Ironwood Pharmaceuticals

that maintained its Neutral rating and raised the price target from $15 to $18 due to positive prescription data. In the report Bank of America said, "As a reminder, we had previously lowered our Linzess sales estimates significantly because initial January prescription trends were slower than we had anticipated; following additional data in February however, trends have improved, suggesting the heavy initial sampling period has been effective in converting to paid prescriptions." Ironwood Pharmaceuticals closed Monday at $17.18.