"We continue to believe Esbriet for IPF will be approved by the FDA on or before the November 23 PDUFA date, and should emerge as the frontline drug of choice. But with ITMN trading +6% our 12-month price target of $49, we now see valuation as fair," the firm said in a note today.
Yesterday, the company's shares closed up 14.44% to $52.06 after it was reported that drugmakers, including Sanofi (SNY) and Roche Holding (RHHBY), are among bidders for the company, Bloomberg reported.
Separately, TheStreet Ratings team rates INTERMUNE INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERMUNE INC (ITMN) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been generally deteriorating net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: