Leerink Swann Maintains an 'Outperform' on InterMune (ITMN); Lowering PT on Delays in Expected Esbriet Launch
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Price: $73.89 --0%
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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Leerink Swann maintains an 'Outperform' on InterMune Inc. (NASDAQ: ITMN) price target lowered from $37 to $27.
Analyst, Jonathan Eckard, said, "We are lowering our 12-month valuation on ITMN shares to $27, reflecting the delays in expected Esbriet launch in several EU countries and in the US, as well as more modest assumptions on German ramp-up. We reach our $27 valuation using a DCF analysis that assumes sales of Esbriet in Europe and probability-weighted US sales (at 65%) with IP protection only from the respective 10- and 7-years of orphan drug exclusivity. This DCF uses an 11% discount rate that we believe is appropriate given the inclusion of probability-weighted sales."
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 $15.28 yesterday.
Analyst, Jonathan Eckard, said, "We are lowering our 12-month valuation on ITMN shares to $27, reflecting the delays in expected Esbriet launch in several EU countries and in the US, as well as more modest assumptions on German ramp-up. We reach our $27 valuation using a DCF analysis that assumes sales of Esbriet in Europe and probability-weighted US sales (at 65%) with IP protection only from the respective 10- and 7-years of orphan drug exclusivity. This DCF uses an 11% discount rate that we believe is appropriate given the inclusion of probability-weighted sales."
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 $15.28 yesterday.
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