Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on Insmed and decreased the price target to $230.00 from $240.00.
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Andrew Fein has given his Buy rating due to a combination of factors that, in his view, still support long-term value creation at Insmed despite the setback in chronic rhinosinusitis without nasal polyps (CRSsNP). He acknowledges that the Phase 2b BiRCh trial in CRSsNP failed to meet its primary and secondary endpoints and that this removes an important near-term label expansion opportunity for brensocatib and slightly weakens the “pipeline-in-a-product” argument. However, he emphasizes that safety remained consistent with prior studies and sees limited negative implications for other neutrophil-driven indications, particularly hidradenitis suppurativa, as well as potential longer-term expansion into COPD and selected asthma subtypes.
At the same time, Fein highlights the strategic importance of acquiring INS1148, a Phase 2–ready, first-in-class anti-SCF248 antibody that broadens Insmed’s reach into interstitial lung disease and moderate-to-severe asthma by targeting SCF/c-Kit–mediated chronic inflammation and tissue remodeling. When combined with favorable Phase 2 data for TPIP that he believes can justify progression to Phase 3 in idiopathic pulmonary fibrosis and progressive pulmonary fibrosis, along with a sizable preclinical portfolio exceeding 30 programs, he concludes that Insmed retains a diversified and innovation-rich pipeline. Overall, these elements underpin his view that the CRSsNP disappointment is manageable and that the company remains well positioned to generate meaningful shareholder value, supporting his Buy recommendation and revised $230 price target.
Fein covers the Healthcare sector, focusing on stocks such as Prothena, Alector, and BioCryst. According to TipRanks, Fein has an average return of 30.5% and a 56.88% success rate on recommended stocks.