When will this guy ever learn? Can you see the glaring flaw in this article?
Wedbush reiterated an Underperform rating on Insmed (NASDAQ: INSM) price with a target of $7.00. Comments follow infectious disease physician checks.
"Following the announcement of top-line data from the Phase II ARIKAYCE study in the treatment-resistant nontuberculous mycobacteria (NTM) setting last week, we spoke to several infectious disease specialists about the results," said analyst Gregory R. Wade. "Although each was enthusiastic and encouraged by the report of sputum culture conversion, each also indicted that any real change in the bacterial burden in the lung would be expected to be accompanied by a similar clinical improvement. One suggested that additional measures to confirm culture conversion and improvement in NTM bacterial burden in the lower airways could include bronchio-alveolar lavage and quantitative PCR."
"We believe there are 2 potential scenarios for the Phase II efficacy of ARIKAYCE in the NTM setting. 1. Concordant clinical improvement will be reported at ATS for patients with culture conversion or improvement sputum density. We would expect FDA to be potentially receptive to a regulatory filing in this scenario. 2. There is little or weak evidence of concordant improvement in clinical features in patients with culture conversion or improvement in sputum density presented at ATS. This data would suggest to us that the microbiological measures are possibly misleading or occur ahead of potential clinical improvement that would be expected if there is a real reduction in NTM bacteria in the lungs. We would not expect the FDA to be receptive to a regulatory filing in this case," he added.
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"the microbiological measures are possibly misleading or occur ahead of potential clinical improvement that would be expected if there is a real reduction in NTM bacteria in the lungs"
WOW, this guys is a total #$%$!!
So, I believe there are two potential scenarios regarding Greg Wade:
1. He was wrong to issue an Outperform rating in the first place
2. He is completely clueless regards to "reduction in bacterial density" vs "culture conversion"
Either way, he will not hold onto his current job at this rate.
Trying to cover his backside with clients etc. So transparent, it is laughable. Bet he never listened to the cc. What a putz. All other firms reiterated or upgraded. He must be the laughuing stock of the analyst world.