Ironwood initiated with bullish view at Wells Fargo, here’s why

Wells Fargo initiated coverage of Ironwood Pharmaceuticals with an Overweight rating and $20 price target. The analyst thinks Apraglutide has a “high probability of success and being differenced.” The firm sees 100% upside and 50% downside into the March 2024 data. Ironwood’s strength in the gastrointestinal space could also help sell Apraglutide, the analyst tells investors in a research note.