Tuesday, December 21, 2010

InterMune (NASDAQ:ITMN) Continues Surge on Esbriet

Shares of InterMune Inc. (NASDAQ:ITMN) continue to rise on the news of the positive response from European authorities on Esbriet, ITMN’s drug for Idiopathic Pulmonary Fibrosis.

Canaccord said, "Last week, Esbriet, ITMN’s drug for Idiopathic Pulmonary Fibrosis (IPF) was given a positive opinion by the European regulatory agency based on a good benefit to risk balance.”

All of this is predicated on the probability they'll be able to commercialize Esbriet in Europe and elsewhere.

Canaccord Genuity maintains a "Buy" on InterMune Inc., which closed Monday at $35.81, up $0.92, or 2.64 percent. Canaccord has a price target of $43 on them.

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