Insmed: Strong Brinsupri Launch, Solid Arikayce Performance, and 2026 Catalysts Underpin Buy Rating

William Blair analyst Matt Phipps has reiterated their bullish stance on INSM stock, giving a Buy rating on January 6.

Matt Phipps has given his Buy rating due to a combination of factors that highlight Insmed’s strong operational execution and growth prospects. He points to Brinsupri’s first full quarter on the market delivering revenue far above both his own and the Street’s expectations, which strengthens his conviction that the drug can become a multi‑billion‑dollar product over time. The magnitude of this outperformance, supported by a high number of new patient starts and a manageable level of inventory build, suggests robust underlying demand rather than a one‑time spike. In addition, Arikayce revenue also topped forecasts, and management’s 2026 sales guidance for this franchise supports a visible, growing revenue base.

Phipps also underscores the importance of Insmed’s near‑term clinical and regulatory catalysts in 2026 that could further enhance the company’s valuation. The company narrowed timelines for key readouts, including Phase III data for Arikayce and Phase IIb results for Brinsupri, which reduces uncertainty around these milestones and improves visibility for investors. Successful outcomes from these studies could expand the addressable market and solidify the long‑term trajectory of both products. Taken together, the strong commercial performance, reinforced guidance, and multiple upcoming data events lead Phipps to maintain a positive outlook on the shares and support his Buy recommendation.

According to TipRanks, Phipps is a 4-star analyst with an average return of 7.0% and a 50.70% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Evommune, Inc., Incyte, and Bristol-Myers Squibb.

In another report released on January 6, UBS also maintained a Buy rating on the stock with a $215.00 price target.