Wells Fargo Resumes Coverage On InterMune With $13-15 Valuation Range

Wells Fargo is resuming coverage on InterMune, Inc.'s (NASDAQ: ITMN) with a change in analyst, a Market Perform rating, and a $13-$15 valuation range.

“ITMN's lead drug, pirfenidone, produced mixed phase III results in idiopathic pulmonary fibrosis (IPF), with one study reaching its primary endpoint and the second not reaching significance (but suggesting activity),” Wells Fargo writes.

InterMune currently trades at $13.27.