InterMune's (ITMN) Esbriet Survey Results Favorable - Goldman Sachs
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Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs said results of a recent survey showed favorable results for InterMune's (NASDAQ: ITMN) Esbriet for IPF, which has an ongoing European launch.
The survey showed solid prescribing base and increasing usage among high prescribers.
Goldman surveyed 11 physicians in Germany with a total of 635 IPF patients under care. All of them have prescribed Esbriet since its launch. Only one of the 11 was involved in the Esbriet clinical trials, while 46 percent were contacted by a sales rep. The 5 physicians who treat at least 50 IPF patients see their usage steadily increasing over the next 24 months.
Despite InterMune noting that new patient adds in the first quarter were down 10% due to standing questions on reimbursement in Germany, the reimbursement overhang did not impact the surveyed physicians, the firm said. That said the lack of final reimbursement and/or pricing in Germany, France, Spain, Italy and UK keeps the firm's rating at Neutral.
Goldman has a $16 price target on ITMN.
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 $10.61 yesterday.
The survey showed solid prescribing base and increasing usage among high prescribers.
Goldman surveyed 11 physicians in Germany with a total of 635 IPF patients under care. All of them have prescribed Esbriet since its launch. Only one of the 11 was involved in the Esbriet clinical trials, while 46 percent were contacted by a sales rep. The 5 physicians who treat at least 50 IPF patients see their usage steadily increasing over the next 24 months.
Despite InterMune noting that new patient adds in the first quarter were down 10% due to standing questions on reimbursement in Germany, the reimbursement overhang did not impact the surveyed physicians, the firm said. That said the lack of final reimbursement and/or pricing in Germany, France, Spain, Italy and UK keeps the firm's rating at Neutral.
Goldman has a $16 price target on ITMN.
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 $10.61 yesterday.
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