Insmed Incorporated Now Covered by Canaccord Genuity (INSM)

Analysts at Canaccord Genuity started coverage on shares of Insmed Incorporated (NASDAQ: INSM) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

The analysts wrote, “Initiating coverage with BUY rating, $12 target on Arikace potential in two orphan indications: cystic fibrosis (CF) P. aeruginosa and nontuberculous mycobacteria (NTM) lung infections. INSM’s lead candidate Arikace is a liposomal formulation of potent, FDA approved antibiotic amikacin. We expect positive data from an EU Ph3 trial of Arikace vs. current SOC TOBI (inhaled tobramycin) in CFpatients (mid-2013) and a US Ph2 trial evaluating Arikace in NTM lung infections (data expected Q4/13). NTM is a larger market than CF with no approved therapies and may provide a quick path to market and premium pricing for Arikace.”

Separately, analysts at Leerink Swann initiated coverage on shares of Insmed Incorporated in a research note to investors on Monday, March 11th. They set an “outperform” rating and a $13.00 price target on the stock.

Insmed Incorporated (NASDAQ: INSM) traded up 3.07% on Friday, hitting $7.04. Insmed Incorporated has a 1-year low of $2.66 and a 1-year high of $8.27. The stock’s 50-day moving average is currently $6.24. The company’s market cap is $221.3 million.

Insmed Incorporated (NASDAQ: INSM) is a biopharmaceutical company specializing in recombinant protein drug development.

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