UPDATE: Webush Upgrades Ironwood Pharmaceuticals on Completed Financing

In a report published on Thursday, Wedbush analyst Gregory R. Wade Upgraded Ironwood Pharmaceuticals IRWD from Underperform to Neutral and maintained a price target of $12 on the company on recently completed financing and Linzess script metrics.

In the report, Wedbush stated, "While IRWD shares could benefit in the short term from the upwardly revised Street LINZESS estimates, our medium-term outlook remains cautious. We believe even potentially improving LINZESS growth metrics are unlikely to see the shares appreciate from these levels, given the company's ~$1.4billion enterprise value."

Ironwood Pharmaceuticals closed on Wednesday at $13.07.