TD Cowen analyst Ritu Baral has maintained their bullish stance on INSM stock, giving a Buy rating yesterday.
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Ritu Baral has given her Buy rating due to a combination of factors related to Insmed’s recent approval of Brensocatib for the treatment of non-CF bronchiectasis. The drug’s approval by the FDA comes with a clean label, free of market-limiting warnings or monitoring requirements, which is expected to facilitate its market entry and adoption. The broad label language allows for use in a wide range of patients aged 12 and older, without the need for a history of exacerbations, potentially expanding its market reach.
Furthermore, the clinical data supporting Brensocatib indicates a statistically significant benefit in lung function, specifically in FEV1 improvement, which underscores its potential as a disease-modifying treatment. The flexibility in dosing, with both 10mg and 25mg options approved, provides physicians with the ability to tailor treatment to individual patient needs. The financial projections are optimistic, with significant sales expected in the coming years, and the updated valuation model reflecting these prospects has led to an increased target price for Insmed’s stock.
Baral covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Krystal Biotech, and Alnylam Pharma. According to TipRanks, Baral has an average return of 12.5% and a 48.49% success rate on recommended stocks.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $140.00 price target.