Insider Selling: Daniel Welch Sells 70,000 Shares of InterMune Stock (ITMN)
InterMune (NASDAQ:ITMN) CEO Daniel Welch sold 70,000 shares of InterMune stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.43, for a total value of $1,080,100.00. Following the completion of the sale, the chief executive officer now directly owns 157,434 shares in the company, valued at approximately $2,429,207. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on ITMN. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of InterMune (NASDAQ:ITMN) in a research note to investors on Wednesday, September 18th. They now have a $17.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of InterMune (NASDAQ:ITMN) from $11.00 to $12.00 in a research note to investors on Wednesday, September 18th. Finally, analysts at JMP Securities raised their price target on shares of InterMune (NASDAQ:ITMN) from $15.00 to $18.00 in a research note to investors on Thursday, July 25th. They now have a “market outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $16.75.
Shares of InterMune (NASDAQ:ITMN) traded up 1.83% on Friday, hitting $15.56. 584,815 shares of the company’s stock traded hands. InterMune has a 52 week low of $7.80 and a 52 week high of $16.00. The stock’s 50-day moving average is $14.90 and its 200-day moving average is $11.74. The company’s market cap is $1.275 billion.
InterMune (NASDAQ:ITMN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by $0.07. The company had revenue of $14.40 million for the quarter, compared to the consensus estimate of $12.95 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 160.0% on a year-over-year basis.
InterMune, Inc (NASDAQ:ITMN), is a biotechnology company focused on the research, development and commercialization of therapies in pulmonology and orphan fibrotic diseases.
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