H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Insmed (INSM – Research Report) today and set a price target of $120.00.
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Andrew Fein has given his Buy rating due to a combination of factors related to Insmed’s promising developments in their treatment for pulmonary arterial hypertension (PAH). The company has reported positive Phase 2A and Phase 2B results for their treprostinil palmitil inhalation powder (TPIP), which Fein believes will translate well into Phase 3 success. Historical data from PAH studies suggest that successful Phase 2 outcomes generally lead to successful Phase 3 trials and eventual FDA approvals.
Fein’s confidence is further bolstered by the fact that TPIP’s Phase 2 profile is compelling and aligns with recent successes of other therapies in the same field. He notes that Insmed’s approach to Phase 3 design and their engagement with the FDA are positive indicators for future success. Additionally, Fein highlights that TPIP’s unique delivery method and its potential application to a broad range of PAH patients could enhance its market adoption and success in upcoming trials.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $109.00 price target.