Wedbush Expects Positive Results from Insmed (INSM) ARIKAC Trial
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Price: $123.74 --0%
Rating Summary:
32 Buy, 1 Hold, 1 Sell
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Today's Overall Ratings:
Up: 6 | Down: 5 | New: 10
Rating Summary:
32 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 10
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Wedbush today maintained an Outperform rating on Insmed (NASDAQ: INSM) and raised its price target to $18.00 (from $11.00). Analyst Gregory R. Wade expects a positive outcome from ARIKACE Phase III trial for CF.
"We believe that ARIKACE will meet the Phase III trial’s primary endpoint of non-inferiority to TOBI in change from baseline in FEV1 and could potentially show superiority. Positive results from the trial will support an NDA submission in the EU and US in late 2013/early 2014. We see upside to our $18 price target should ARIKACE be shown to be numerically and/or statistically superior to TOBI as we believe this data would further set the product apart in the CF market place," said Gregory R. Wade.
For an analyst ratings summary and ratings history on Insmed (NASDAQ: INSM) click here. For more ratings news on Insmed click here.
Shares of Insmed closed at $11.33 yesterday.
"We believe that ARIKACE will meet the Phase III trial’s primary endpoint of non-inferiority to TOBI in change from baseline in FEV1 and could potentially show superiority. Positive results from the trial will support an NDA submission in the EU and US in late 2013/early 2014. We see upside to our $18 price target should ARIKACE be shown to be numerically and/or statistically superior to TOBI as we believe this data would further set the product apart in the CF market place," said Gregory R. Wade.
For an analyst ratings summary and ratings history on Insmed (NASDAQ: INSM) click here. For more ratings news on Insmed click here.
Shares of Insmed closed at $11.33 yesterday.
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