Jefferies Slashes Price Target On InterMune (ITMN) As Esbriet Questioned
Tweet
Share
E-mailGet Alerts ITMN Hot Sheet
Price: $11.55 -2.78%
Rating Summary:
12 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
12 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Jefferies slashed its price target on InterMune Inc. (NASDAQ: ITMN) from $18 to $10 and reiterated their Underperform rating after Esbriet clinical benefits were questioned in Germany.
The firm comments, "While IQWiG's final assessment of Esbriet and its potential impact on pricing/reimbursement/EU sales are yet to be known, preliminary assessment reflects our long-standing cautious view on the drug/potential. Assuming average EU pricing of ~$23K in 2013 (vs. $42K previously), we are lowering PT to $10 from $18. We continue to view drug sales are driven by clear efficacy and cost/effectiveness, not by lack of alternative therapy."
For an analyst ratings summary and ratings history on InterMune Inc. click here. For more ratings news on InterMune Inc. click here.
Shares of InterMune Inc. closed at $12.74 yesterday.
The firm comments, "While IQWiG's final assessment of Esbriet and its potential impact on pricing/reimbursement/EU sales are yet to be known, preliminary assessment reflects our long-standing cautious view on the drug/potential. Assuming average EU pricing of ~$23K in 2013 (vs. $42K previously), we are lowering PT to $10 from $18. We continue to view drug sales are driven by clear efficacy and cost/effectiveness, not by lack of alternative therapy."
For an analyst ratings summary and ratings history on InterMune Inc. click here. For more ratings news on InterMune Inc. click here.
Shares of InterMune Inc. closed at $12.74 yesterday.
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
