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H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Insmed (NASDAQ: INSM) today and set a price target of $35. The company’s shares closed yesterday at $28.08.
Fein commented:
“Valuation and risks. Our price target of $35/share is based on: (a) $47/share, as a 35x multiple of taxed and diluted FY22 GAAP EPS of $2.80 discounted back to FY18 cat 20%; and (b) an NPV of $23/share (discount rate 12.5%, growth rate 2%). Risks to our investment thesis and target price include: (1) failure of ALIS to secure regulatory approval; and (2) failure of ALIS to achieve peak commercial revenue estimates in our model due to market size, penetration rates, and/or pricing.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 4.7% 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.
Insmed has an analyst consensus of Moderate Buy, with a price target consensus of $41, which is a 46.0% upside from current levels. In a report released yesterday, Cowen & Co. also assigned a Buy rating to the stock with a $56 price target.
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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 $44.67 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Orlov Nicole Schaeffer, the Chief People Strategy Officer of INSM sold 37,575 shares for a total of $1,054,631.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
