InterMune Sees Large Volume Increase on Analyst Upgrade (ITMN)
InterMune (NASDAQ:ITMN) saw unusually-high trading volume on Monday after William Blair raised their price target on the stock from $55.00 to $74.00, Stock Ratings Network reports. Approximately 39,887,036 shares were traded during mid-day trading, an increase of 768% from the previous session’s volume of 4,597,505 shares.The stock last traded at $72.85 and had previously closed at $53.80.
A number of other firms have also recently commented on ITMN. Analysts at Stifel Nicolaus downgraded shares of InterMune from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $74.00 price target on the stock, up previously from $53.80. Separately, analysts at Leerink Swann raised their price target on shares of InterMune from $53.00 to $74.00 in a research note on Monday. Finally, analysts at Robert W. Baird raised their price target on shares of InterMune from $50.00 to $74.00 in a research note on Monday. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.42.
In other InterMune news, EVP Paul D. Arata sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $50.00, for a total transaction of $375,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $45.86 and a 200-day moving average of $36.13. The company’s market cap is $7.874 billion.
InterMune (NASDAQ:ITMN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.72) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.56) by $0.16. The company had revenue of $35.70 million for the quarter, compared to the consensus estimate of $33.96 million. During the same quarter in the prior year, the company posted ($0.77) earnings per share. The company’s quarterly revenue was up 141.2% on a year-over-year basis. Analysts expect that InterMune will post $-2.75 EPS 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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