UPDATE: Cowen & Company Upgraded Ironwood Pharmaceuticals to Outperform

Cowen & Company analyst Edward Nash upgraded Ironwood Pharmaceuticals, Inc. IRWD from Market Perform to Outperform and maintained a $14 PT. Nash noted that the strong early performance of Linzess indicates that it will be a hit. The analyst reported that prescriptions are above Takeda/ Sucampo's Amitiza, and gains in refill rates suggest that patients are satisfied with Linzess. Last month, Piper Jaffrey commented that Irownwood's Linzess would probably not be a “blockbuster.” Ironwood closed at $9.95 on Wednesday and is currently trading +2.71%.