In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Insmed (NASDAQ: INSM), with a price target of $43. The company’s shares closed on Friday at $20.22, close to its 52-week low of $18.64.
Fein said:
“Our price target of $43/share is based on: (a) $42/share, as a 35x multiple of taxed and diluted FY22 GAAP EPS of $7.52 discounted back to FY18 cat 20%; and (b) an NPV of $44/share (discount rate 12.0%, growth rate 2%). Risks to our investment thesis and target price include:(1) failure of ALIS in the Phase 4 study ; and (2) failure of ALIS to achieve peak commercial revenue estimates in our model due to market size, penetration rates and/or pricing or other limiting factors.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 10.9% and a 47.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Insmed is a Moderate Buy with an average price target of $42.60.
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Based on Insmed’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $76.44 million. In comparison, last year the company had a GAAP net loss of $45.18 million.
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Insmed, Inc. operates as a biopharmaceutical company focused on developing and commercializing inhaled therapies for patients battling serious lung diseases that are often life threatening. It focuses on the development and commercialization of ARIKAYCE or liposomal amikacin for inhalation (LAI), for at least two identified orphan patient populations: patients with nontuberculous mycobacteria lung disease and cystic fibrosis patients with Pseudomonas aeruginosa lung infections. The company was founded on November 29, 1999 and is headquartered in Bridgewater, NJ.
