06:00 EDT INSM Insmed price target raised to $45 from $34 at Piper Jaffray
Subscribe for More Information
FWIW from Seeking Alpha
More on Insmed/Piper Jaffray: Analyst confident on Arikace
Piper's Josh Schimmer says that a key opinion leader will soon publish data that will get Insmed's Arikace lung-infection treatment approved based on a primary end-point.
Piper is as confident of Arikace's speedy approval as it was with the prospect of Vanda receiving FDA authorization for its Hetlioz sleep-wake disorder drug - the therapy was approved at the end of January.
Sentiment: Strong Buy
The key unknown is whether or not the FDA will consider data from culture results as being "reasonably likely to predict clinical benefit" - the key criterion for accelerated approval under the legislation enacted last July.
Once again - for investors who haven't done so, please listen to the replay of the recent presentation (link available on Insmed's web site).
Lewis referred to literature soon to be published concerning research shared with both the FDA and the EMA which evidences a compelling link between evidence of reduction in bacterial density and a subsequent clinical benefit.
One assumes this is the anticipated development which supports the Piper Jaffray upgrade.
One might infer from an upgrade based upon that research (supporting the link between culture results and a subsequent clinical benefit) an expectation on the part of Piper Jaffray that the NTM study's primary endpoint will be met.
Well, I'm inclined to believe an upgrade from a company who's analyst actually talks to the company rather than Wedbush, who's analyst hasn't spoken with the company in over a year. There
analyst" should think about a new career - maybe flipping burgers at Burger King.