Summer Street sees further upside for InterMune

"We believe that the ASCEND trial of pirfenidone for idiopathic pulmonary fibrosis will be successful when the data is top lined Q2 2014," Summer Street's Bart Classen says, in a bullish note on shares of InterMune (ITMN +0.3%) which he says could rise another 20% in Q1.

"The trial is similar to three previous Phase 3 trials but is only 52 weeks in duration," Classen notes, before adding that "all previous trials were statistically significant in the 48-52 week range."

As an aside, Summer Street doesn't think Boehringer Ingelheim’s nintedanib will succeed in IPF.

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