Insider Selling: InterMune CEO Unloads 41,493 Shares of Stock (ITMN)
InterMune (NASDAQ:ITMN) CEO Daniel G. Welch unloaded 41,493 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.03, for a total value of $1,660,964.79. Following the sale, the chief executive officer now directly owns 93,931 shares in the company, valued at approximately $3,760,058. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
InterMune (NASDAQ:ITMN) traded up 1.89% during mid-day trading on Wednesday, hitting $40.38. 2,211,113 shares of the company’s stock traded hands. InterMune has a one year low of $9.32 and a one year high of $41.19. The stock’s 50-day moving average is $33.45 and its 200-day moving average is $23.26. The company’s market cap is $3.993 billion.
InterMune (NASDAQ:ITMN) last announced its earnings results on Thursday, May 1st. The company reported ($0.59) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.62) by $0.03. The company had revenue of $30.30 million for the quarter, compared to the consensus estimate of $28.24 million. During the same quarter in the prior year, the company posted ($0.64) earnings per share. The company’s quarterly revenue was up 188.6% on a year-over-year basis. On average, analysts predict that InterMune will post $-2.34 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on ITMN shares. Analysts at William Blair raised their price target on shares of InterMune from $41.00 to $48.00 in a research note on Thursday, May 22nd. Separately, analysts at ING Group upgraded shares of InterMune from a “market perform” rating to a “buy” rating in a research note on Monday, May 19th. They now have a $41.00 price target on the stock. Finally, analysts at Leerink Swann upgraded shares of InterMune from a “market perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $41.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $39.08.
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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