In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Insmed (NASDAQ: INSM), with a price target of $35. The company’s shares closed yesterday at $29.72.
Fein observed:
“We believe ALIS (Amikacin Liposome Inhalation Suspension) is likely to be reviewed before the and it is our understanding that the AdCom is likely to take place the first week of August, ahead of the company’s September 28, 2018 PDUFA date. We continue to believe the collective strength of the ALIS data essentially removes the regulatory risks, based on the following: (1) high unmet needs in the existing NTM space as no effective treatment is available. We point to the impassioned patient testimonies at the FDA patient-focused NTM meeting on October 15, 2015.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 8.3% and a 53.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Proteostasis Therapeutics Inc, and ACADIA Pharmaceuticals Inc.
Insmed has an analyst consensus of Strong Buy, with a price target consensus of $42.25.
See today’s analyst top recommended stocks >>
Based on Insmed’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $68.52 million. In comparison, last year the company had a GAAP net loss of $37.41 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. Last month, 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.
