Insmed INSM shares are down more than 15 percent Monday morning amid a Phase 3 trial of Arikace which met a primary endpoint, but a company slideshow which revealed competitor Novartis's NVS Tobi drug showed more favorable results.
Lazard analyst Joshua Schimmer reiterated a Buy rating on Insmed following the downside. The analyst believes Arikace is "still viable" despite the concern and market reaction Monday.
With shares of Insmed last trading at $10.16, Schimmer's $24 price target represents potential upside of about 136 percent.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in