You could have bought this stock for $15 at the end of February, and it may hit $40 today. This will likely reignite a pretty hot biotech rally, as we could see the IBB (biotech ETF)  approaching its 2001 high of 100. Our advisers on biotech matters, Raygent Associates, say that "a more favorable FDA backdrop combined with the continuing M&A action should keep the biotech sector perking." What's amazing about the Intermune is that it also vaulted 60% on March 5 after the Company released documents on the meeting to review pirfenidone. The product was approved in Japan in October of 2008 with InterMune’s partner Shionogi and Co. Ltd. as marketer, and it has been granted Orphan Drug and Fast Track Drug status by the FDA. It would appear that this was a pretty good tip that more good news was coming. It shows you want can happen when the FDA blesses a biotech stock. A few select analysts were on top of the story last week. ThinkEquity analyst Brian Skorney said the FDA were kinder to Intermune than investors expected. Raygent points out that Leerink Swann analyst Howard Liang Ph.D. published a report on February 18 (stock at $15.17) with an outperform on the stock and a price target of 35-37. Leerink Swann also reviewed the status of ITMN’s Phase II HCV program(RG 7227). InterMune has annual revenues of about $40M primarily from its Actimmune product. An amazing seven analysts currently have buys or strong buys on the stock.