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Insmed (INSM) Receives a Buy from SVB Securities

SVB Securities analyst Joseph Schwartz reiterated a Buy rating on Insmed (INSMResearch Report) on May 5 and set a price target of $52.00. The company’s shares closed last Friday at $20.59, close to its 52-week low of $20.02.

According to TipRanks.com, Schwartz is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -15.7% and a 24.5% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Applied Molecular Transport, Ultragenyx Pharmaceutical, and Mereo Biopharma Group Plc.

Currently, the analyst consensus on Insmed is a Strong Buy with an average price target of $49.13, implying an 119.6% upside from current levels. In a report issued on April 27, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $56.00 price target.

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Based on Insmed’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $56.12 million and GAAP net loss of $113 million. In comparison, last year the company earned revenue of $41.42 million and had a GAAP net loss of $102 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.

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