Analyst coverge and interesting comments from Nov 26th (Piper Jaffray/JMP Securities)
So this was 44-45 days ago. Since then UBS has set a price of $34(?) and JMP set a price of $25(?).
My point is, all these analysts either know something is in the "air" or we are all fools (again). All this after the insinuating report that Insmed's trial results was "tainted or biased".
"Analysts at Piper Jaffray began coverage on shares of Insmed Incorporated (NASDAQ:INSM) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $34.00 price target on the stock. Piper Jaffray’s price objective would indicate a potential upside of 124.72% from the stock’s previous close."
The analysts wrote, “We are initiating, resuming or assuming coverage on 16 biotechnology companies. We believe the outlook for the biotech sector in 2014 remains strong, although the tape may be somewhat choppy as the average large-cap biotech growth stock multiple is now above that of growth stocks in other sectors. However, with long product cycles, attractive pipeline assets not reflected in valuations, new clinical data and commercial catalysts and potential for further increases to consensus, we believe biotech will still deliver attractive returns to investors. Our top large-cap picks are GILD, AMGN and ALXN. Our top small/mid cap picks are GWPH, NKTR, CMRX, INSM, VNDA and RPRX.”
A number of other analysts have also recently weighed in on INSM. Analysts at HC Wainwright initiated coverage on shares of Insmed Incorporated in a research note to investors on Monday, November 11th. They set a “buy” rating and a $25.00 price target on the stock. Analysts at JMP Securities initiated coverage on shares of Insmed Incorporated in a research note to investors on Thursday, October 17th. They set a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.