Benzinga's Top #PreMarket Losers

Insmed INSM shares declined 20.29% to $13.75 in pre-market trading after the company reported that it will file a Marketing Authorization Application in Europe for Arikayce by the end of 2014. The company also announced that it will start its Phase 3 study. Noble NE fell 11.55% to $27.49 in pre-market trading after the company completed the spin-off of Paragon Offshore. Deutsche Bank downgraded Noble from Buy to Hold and lowered the price target from $43.68 to $28.00. Diamond Offshore Drilling DO dropped 6.88% to $43.25 in pre-market trading. Diamond Offshore's profit slipped 52% in the latest quarter. Deutsche Bank downgraded Diamond Offshore Drilling from Hold to Sell and lowered the price target from $60.00 to $34.00. Transocean RIG dipped 2.25% to $39.53 in pre-market trading after declining 3.87% last week. Deutsche Bank downgraded Transocean from Hold to Sell and cut the price target from $45.00 to $27.00.