Insmed, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ritu Baral from TD Cowen maintained a Buy rating on the stock and has a $231.00 price target.
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Ritu Baral’s rating is based on several positive developments for Insmed. The recent European Commission approval of Brinsupri, Insmed’s first-generation neutrophil elastase inhibitor, for treating non-cystic fibrosis bronchiectasis (NCFBE) represents a significant milestone. This approval positions Brinsupri as the first and only approved treatment for NCFBE in Europe, which is expected to drive future revenue growth.
Additionally, Insmed’s strategic approach to pricing and market access in Europe suggests a strong potential for financial success. The company plans to launch in Germany initially, followed by the UK and Japan, without agreeing to major discounts, which indicates confidence in the product’s value. Furthermore, the expansion of Insmed’s development pipeline with next-generation inhibitors adds to the company’s growth prospects, justifying the Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $230.00 price target.
Based on the recent corporate insider activity of 157 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INSM in relation to earlier this year.