Company

Bank

Analyst

Coverage

Opinion

Wk chg

5/23 cls

InterMune Inc. (NASDAQ:ITMN)

Leerink Partners

Howard Liang

Upgrade

Outperform (from market perform)

17%

$39.98

Stifel, Nicolaus

Stephen Willey

Price target

Buy

William Blair

Katherine Xu

Price target

Outperform

Liang upgraded but maintained his $41 target, saying Phase III data reported at the American Thoracic Society meeting in San Diego favor the use of InterMune's Esbriet over nintedanib from Boehringer Ingelheim GmbH in idiopathic pulmonary fibrosis (IPF). InterMune reported data from the IMPULSE trial and Boehringer reported data from the INPULSIS-1 and INPULSIS-2 trials (see Ebb & Flow, A19). Liang said Esbriet had better mortality data and nintedanib showed mixed data in forced vital capacity (FVC) and a potential myocardial infarction (MI) safety signal. InterMune plans to resubmit an NDA to FDA "in the coming weeks" for Esbriet. The company markets Esbriet to treat mild to moderate IPF in Canada and Europe. Nintedanib is a small molecule inhibitor of multiple pro-angiogenic kinases.