Of the hundreds of biotechs that trade he only follows 18. On March 14th he raised his price target on GWPH to 97 - the shares were trading just over 70. On April 15th, a month later, the share price fell under 42. In the 15 days since the shares have rose 35 points as the company received fast track status from the FDA. Insmed is waiting for breakthrough therapy designation from the FDA, which would automatically grant fast track. The current share price means nothing if INSM receives the positive nod from the FDA that this analyst is predicting.
BO, the market has not cooperated with a lot of "valuations" that Schimmer (and others) have calculated. having said that, Schimmer tends to do PTs on the future based on a variety of scenarios and facts. Many analysts wait until some news occurs (see ECYT) and then react (see Wade/Wedbush). Schimmer has been all over INSM from 3 different financial institutions which he has worked his way up to Piper Jaffray. Less than 3 weeks until we hear something that substantiates what we all believe here (that know anything).
Rook, I know, but when the entire sector is being punished it wil take company specific news to regain momentum. The FDA often surprises, but I have been through all I have been able to find regarding breakthrough therapy and I simply have drawn the conclusion that arikace for NTM will receive the designation. Even though there is a treatment for these patients that has simply been developed - not approved, only about half of the patients can tolerate the regimen. It's not like NTM is a disease that if something offers hope it can just be ignored because of the disease not being serious.....NTM is really awful...and growing quickly