Ironwood initiated with an Outperform at JMP Securities

JMP Securities analyst Jason Butler initiated coverage of Ironwood Pharmaceuticals with an Outperform rating and $22 price target. The analyst says Ironwood is a “well-established” commercial biotech company that has driven success through Linzess, the most commonly prescribed branded medication for treating irritable bowel syndrome with constipation and chronic idiopathic constipation. The firm believes the recent acquisition of VectivBio and its “best-in-class” GLP-2 analog, apraglutide, is “transformational” for Ironwood.