Citizens analyst Jason Butler upgraded Ironwood (IRWD) to Outperform from Market Perform with an $8 price target The firm says “restored confidence” in Linzess strength eases the company’s debt obligation concerns and allows renewed focus on the long-term value of apraglutide. Linzess can generate brand profit to Ironwood of $1.5B before the loss of exclusivity, and cash flow from the asset will be more than sufficient to meet Ironwood’s existing debt obligations, the analyst tells investors in a research note.
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