UPDATE: Morgan Stanley Downgrades Ironwood Pharmaceuticals to Equal-Weight on Lower Linzess Sales Estimates

In a report published Wednesday, Morgan Stanley analyst David Friedman downgraded the rating on Ironwood Pharmaceuticals (NASDAQ: IRWD ) from Overweight to Equal-Weight, and lowered the price target from $21.00 to $18.00. In the report, Friedman noted, “We model peak WW sales of ~$2bn, and believe the stock is pricing