UPDATE: Canaccord Genuity Upgrades InterMune to Buy on Esbriet EU Momentum

Canaccord Genuity raised its rating on InterMune ITMN from Hold to Buy and increased its price target from $11 to $13. Canaccord Genuity commented, "We've been waiting for a signal that ITMN could execute on marketing Esbriet – we think this could be it. We think the strength in Q3 sales may signal the start of a new ramp in pirfenidone sales, buoyed by upcoming French and Italian launches. We expect continued positive momentum in H1/13 as France and Italy could be better organized and more enthusiastic re pirfenidone than Germany. We are raising our target on increased adoption rates forecast in Q4/12, 2013 and 2014." InterMune closed at $8.16 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesPre-Market OutlookAnalyst RatingsCanaccord Genuity
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!