UPDATE: Brean Murray Color on InterMune Initiation

Brean Murray, Carret & Co., which initiated InterMune Inc. (NASDAQ: ITMN) at Buy, is providing some color on the stock.

“We are initiating coverage of InterMune with a Buy rating and a $50 price target,” Brean Murray writes. “InterMune is beginning to launch Esbriet, a newly approved drug for the treatment of a fatal disease, idiopathic pulmonary fibrosis, in the European Union. We believe the market opportunity for Esbriet in the EU can speak at $1 billion per year.”

InterMune closed Tuesday at $35.47.