J.P. Morgan on ITMN, Continues to Recommend

In a research note released Thursday, JPM analyst Liisa A. Bayko increased the price target on Intermune, Inc. ITMN from $48.0 to $55.0. In addition, the analyst reiterated the rating of Market Outperform. The analyst increased the price target based on a survey that JPM conducted, “Survey says…pirfenidone preferred product in moderate to severe patients.” This drug is expected to price at 85,000 at launch and is expected to hit a peak penetration of 35 percent by year five. The analyst continued that they are continuing to recommend shares of ITMN 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 five percent today, and are up a staggering 198 percent year-to-date.