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August 4, 2014
10:34 EDTINSMInsmed EU update to provide near-term floor, says Piper Jaffray
Piper Jaffray attributes today's pullback in shares of Insmed to the company not immediately filing for U.S. approval of Arikayce in cystic fibrosis and nontuberculous mycobacteria. However, Piper believes the earlier than expected European filing will provide a near-term floor for shares. The firm also says the Phase 2 improvement in 6MWD in the Arikayce arm should "put to rest much of the debate over the drug's clinical utility." Piper reiterates an Overweight rating on Insmed with a $51 price target.
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