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Fly News Breaks for September 19, 2018
INSM
Sep 19, 2018 | 09:22 EDT
Goldman Sachs analyst Dana Flanders lowered his price target on Insmed to $25 to reflect the 22% decline in its stock price since August amid the rising uncertainty around the "likelihood of the phase 3 surrogate endpoint of culture conversion to predict clinical benefit" in ALIS study. The analyst is also keeping a Neutral rating on the stock citing his measured ALIS launch expectations, but sees its risk-reward more favorable going into the September 28th PDUFA, anticipating an ultimate approval for ALIS in the refractory setting "based on high unmet need for new treatment options in this orphan indication".
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