Analyst Maxwell Skor from Morgan Stanley maintained a Buy rating on Insmed and increased the price target to $112.00 from $108.00.
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Maxwell Skor has given his Buy rating due to a combination of factors that suggest Insmed is well-positioned for future growth. The upcoming launch of brensocatib, with a PDUFA date set for August 12, 2025, is a significant milestone. The management has made substantial preparations, including the inLighten patient support system and early field deployment with numerous centers of excellence, which are expected to facilitate a smooth launch.
Moreover, the strong clinical data supporting brensocatib and the clear unmet medical need it addresses are pivotal in driving its market success. The potential market is substantial, with around 90% of surveyed physicians planning to prescribe the drug for patients with multiple pulmonary exacerbations. Additionally, Insmed’s ongoing pipeline advancement, including other promising trials, further supports the Buy rating as it indicates sustained potential for value creation.
In another report released yesterday, Leerink Partners also maintained a Buy rating on the stock with a $125.00 price target.
INSM’s price has also changed moderately for the past six months – from $79.950 to $109.300, which is a 36.71% increase.