William Blair analyst Matt Phipps has maintained their bullish stance on INSM stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors including the promising market potential for Insmed’s TPIP in treating pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The recent positive results from the TETON-2 study on nebulized Tyvaso for idiopathic pulmonary fibrosis (IPF) suggest a favorable outlook for TPIP’s development in IPF, which could significantly expand its market reach.
Insmed’s management plans to advance TPIP into a Phase III program for IPF, indicating confidence in the drug’s potential. The estimated peak sales for TPIP in PH-ILD and PAH are substantial, and the unmet need for novel treatments in IPF presents further opportunities. Additionally, the company’s strategic plans for initiating Phase III studies in PH-ILD and PAH by 2025 and early 2026, respectively, underscore the long-term growth prospects that support the Buy rating.
According to TipRanks, Phipps is an analyst with an average return of -4.0% and a 43.59% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Upstream Bio, Inc., Agenus, and Amgen.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $145.00 price target.