JMP Continues To Recommend Intermune At Current Levels
In a research note released Thursday, JMP analyst Liisa A. Bayko increased the price target on Intermune (NASDAQ: ITMN) from $48 to $55 and reiterated a Market Outperform rating.
The analyst increased the price target based on a survey that JMP conducted, “Survey says…pirfenidone preferred product in moderate to severe patients.”
This drug is expected to hit a peak penetration of 35 percent by year five.
The analyst said that they are continuing to recommend shares of Intermune at its current levels with the belief that upcoming events should be good, and the launch should go as expected.
Shares of the company are up over four percent, and are up a staggering 198 percent year-to-date.
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