Cowen & Co. analyst Ritu Baral maintained a Buy rating on Insmed (INSM) today and set a price target of $56. The company’s shares opened today at $28.80.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 26.7% and a 51.4% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Insmed with a $44.17 average price target, a 53.4% upside from current levels. In a report issued on May 8, H.C. Wainwright also maintained a Buy rating on the stock with a $52 price target.
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Based on Insmed’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $74.15 million. In comparison, last year the company had a GAAP net loss of $68.52 million.
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Insmed, Inc. is a biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Its first commercial product is ARIKAYCE (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. The MAC lung disease is a rare and often chronic infection that can cause irreversible lung damage and can be fatal. Its earlier-stage clinical pipeline includes INS1007, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis and other inflammatory diseases, and INS1009, an inhaled formulation of a treprostinil prodrug that may offer a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, NJ.
