InterMune (ITMN) Shares Jump as Esbriet Receives Favorable Score in France; Wells Fargo Comments

April 5, 2012 12:55 PM EDT
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Price: $73.89 --0%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Shares of InterMune (Nasdaq: ITMN) have rallied sharply Thursday afternoon following a mid-day research note from Wells Fargo.

The firm said France's Committee de la Transparence rendered a final decision on the company's Esbriet, issuing a "4" ASMR score (a minor improvement). Although such a score suggests Esbriet will be priced similarly to comparable therapies for IBF, Wells Fargo said, "with no comparable drugs for pricing reference for Esbriet, we believe ITMN can still negotiate premium pricing (we do not believe off-label use of NAC would be considered as an appropriate comparable for pricing references.)"

Wells Fargo maintains an Outperform rating on shares of InterMune.

The stock is up about 7 percent at last check.

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