InterMune Stock Price Down 3.2% on Insider Selling (ITMN)
InterMune (NASDAQ:ITMN) shares were down 3.2% during mid-day trading on Thursday following insider selling activity, AmericanBankingNews.com reports. The stock traded as low as $45.50 and last traded at $45.70, with a volume of 1,458,993 shares traded. The stock had previously closed at $47.22.
Specifically, CEO Daniel G. Welch unloaded 15,000 shares of the company’s stock on the open market in a transaction dated Monday, June 16th. The stock was sold at an average price of $45.02, for a total value of $675,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on ITMN shares. Analysts at Oppenheimer raised their price target on shares of InterMune from $42.00 to $50.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of InterMune from $48.00 to $55.00 in a research note on Thursday, June 12th. They now have a “market outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of InterMune in a research note on Tuesday, June 10th. They now have a $51.00 price target on the stock, up previously from $45.00. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.46.
The stock’s 50-day moving average is $38.87 and its 200-day moving average is $26.39. The company’s market cap is $4.518 billion.
InterMune (NASDAQ:ITMN) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.59) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.64) earnings per share. InterMune’s revenue was up 188.6% compared to the same quarter last year. On average, analysts predict that InterMune will post $-2.32 earnings per share for the current fiscal year.
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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