JMP still is at $25 (PT) too. I think Canaccord dropped out a few weeks ago (they were at $30) as the Yahoo average does not include one of the $30 PTs. Insmed met with JMP securities June 5th I believe.
Better "coverage" than all the news about "failure" and Merck leaving:
"Endocyte, Inc. (ECYT) is a medical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ECYT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Endocyte could be a solid choice for investors.
Current Quarter Estimates for ECYT
In the past 30 days, the consensus estimate trend has been pretty favorable, with estimates narrowing from a loss of 14 cents a share 30 days ago, to 11 cents a share today, making a significant move.
Current Year Estimates for ECYT
Meanwhile, Endocyte’s current year figures are also looking quite promising, with the consensus estimate trend narrowing from a loss of 43 cents per share 30 days ago to a loss of 34 cents per share today, an increase of 20.9%."
I do not disagree but any positive news (no matter how far-fetched) is better than all the suppression we have seen here. Would this article get me to buy anything in BIO? not a chance. What about Seeking Alpha (who i disdain) with their article about Endocyte being a "steal" at these prices? The fact is the market tends to lean on the negative side of stocks almost hoping for failure these days - especially in Biotechs.
Terry - you ALWAYS try and find the negative spin here -
"Once a drug receives Fast Track designation, early and frequent communication between the FDA and a drug company is encouraged throughout the entire drug development and review process. The frequency of communication assures that questions and issues are resolved quickly, often leading to earlier drug approval and access by patients." and "Breakthrough Therapy is a new program at FDA that will complement these existing programs and facilitate and expedite drug development and review for serious conditions. FDA has been vigilant in assuring that reducing the time necessary for drug development has not compromised the safety and effectiveness of drugs for patients with serious conditions."
Of course NASDAQ not helping much. This is the most boring almost 1M shares traded I have seen for awhile
You assume there is more news. Did you do your due diligence on this stock? What about the EMA filing (and possible approval)? Japan? Partnership(s) or even remotely a ....Buyout? This stock is done being DEAD money in the foreseeable future.
we "traded" over $700K shares in the last 15 minutes. I saw that PPS go down almost .20 and it looked like someone sold at market over 10K shares. We never recovered after that. But we did "touch" $19 for a nanosecond.
From "Diamonds and Dogs":
June 18, 2014
Insmed Incorporated (INSM)
The diamond for June 18th is the biopharmaceutical company, Insmed Incorporated. The company was granted the Breakthrough Therapy Designation, meaning the FDA is willing to expedite the development and review of the drug. Arikayce, the treatment drug for adults with nontuberculous mycobacterial (NTM) that received the grant, had positive Phase II clinical trial results. NTM is a disease in extreme need of treatment, which may be part of the reason why the FDA is looking to push the drug through to approval. Insmed's stock price soared 47% up to $17.50, which contrasted the downward movement of the stock price a few months prior to the grant. Now, the company has price targets ranging from $30 to $50, making this security one to watch.
Actually the PTs are $25 to $51 but who is counting.
I just looked a few minutes ago and there are ONLY 13 job postings listed. There were 16 over the weekend so at least they are hiring(?) now moving forward.
I may have missed some but in a nutshell here are the differences:
The June deck (presentation) does not include May page 10 (salesforce) and page 15(Resourcing for Success).
The mission statement has changed from "Build a patient-focused and sustainable biopharmaceutical company" to "Build a patient-focused and sustainable biopharmaceutical company focused on orphan, pulmonary indications".
They added a Page 14 in June - "Resourcing for Success: Manufacturing & Supply Chain" (Althea, Therapure, PARI)
Changed the Balance Sheet debt expiration to (December from July, 2014)
"$20M of debt outstanding (interest only until 12-31-14; matures 1-1-16)"
They added a new VP - "Lilia Arvizu
VP Global Medical Affairs ●15 years experience: Hyperion, Genzyme, EMD Serono, BMS, Abbott"
I think adding Brennan to the board speak volumes (too). Lewis is excellent in his presentations. I "expect" JMP securities to raise their PT to over $30 soon.
Working on the conservative side assume $50K x 50,000 and that is $2.5B and that is just NTM. Because they have the "market" cornered with their patents, there will be many more indications beyond NTM. They are looking at partnership(s) for Asia which may bring in some upfront cash. Within the next 2 years, we should see revenue coming in. Now, if JMP does not raise their 52 week PT to $30 or more then that would be a bit disappointing.
Also his fair estimation of a $50K to $100K price tag (for 36 weeks of treatment). Insmed wants to price this fair. He admitted Insmed will like partner with "someone" for the Asia market (his team was working on that). He emphasized that this "drug" or future drugs are for other indications (mentioned some) beyond NTM and CF. when they have something viable, it will be announced. As AL said about the FDA and EMA they have solid dates scheduled but did not want to announce these should they change (market gets all frothy about reading into this).