Mickey, where did you see that ITMN price target was cut to $6. I think the stock has a strong support around 10.5. This stock is not for people who can't afford risk and speculation. One good thing is that I know my money will be utilized to support a good cause if my bet happened to turn south.
Here is my early post on Jim’s board...
Posted by: The_Net
Date: Wednesday, May 05, 2010 10:25:16 AM
In reply to: None Post # of 289330
Ouch! For those who utilized speculation as a vehicle for trading and/or investment. Check out ITMN
Intermune (ITMN) downgraded at JP Morgan. Rating lowered to Neutral from Overweight. Price target lowered to $13 from $60. 2010 EPS estimates lowered to -$2.10 from -$2.41.
...
By Val Brickates Kennedy ITMN
BOSTON (MarketWatch) -- Shares of InterMune Inc. /quotes/comstock/15*!itmn/quotes/nls/itmn (ITMN 10.91, -34.53, -75.99%) cratered in pre-market trading Wednesday, the day after the U.S. Food and Drug Administration failed to approve its lung-disease drug pirfenidone, also known as Esbriet. The agency said it would not consider approving the product until an additional clinical trial is completed. InterMune shares were down almost 80% at $10.15. The stock had been bid up sharply in recent weeks in anticipation of a FDA approval.
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