In a research report released today, Piper Jaffray’s healthcare analyst Joshua Schimmer reiterated an Overweight rating on shares of Insmed Incorporated (NASDAQ:INSM) with a price target of $51, after hosting the company’s management for meetings with investors in New York.

Schimmer noted, “The most meaningful takeaways from the meetings in our view is the company’s continued and thoughtful execution ahead of a catalyst-rich 2016 as well as the efforts to maximize the value of Arikayce for NTM and broaden the company’s portfolio. In the interim, INSM continues to advance the EMA application as it finalizes its response to the Day 120 questions with the additional durability data from the Phase 2b trial. INSM also continues to enroll the confirmatory Phase 3 trial and bring additional clinical trial sites online with further updates expected on the 3Q earnings call.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joshua Schimmer has a total average return of 2.2% and a 42.9% success rate. Schimmer has a 25.1% average return when recommending INSM, and is ranked #1289 out of 3766 analysts.

As of this writing, the 2 analysts polled by TipRanks rate Insmed stock a Buy. With a return potential of 68%, the stock’s consensus target price stands at $40.50.

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