In a report released today, Tiago Fauth from Wells Fargo maintained a Buy rating on Insmed, with a price target of $140.00.
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Tiago Fauth has given his Buy rating due to a combination of factors including the recent approval of Insmed’s product, BRINSUPRI, which was anticipated and comes with a broad and clean label. This approval allows for flexibility in dosing for patients aged 12 and older with NCFB, without the need for extensive documentation of prior events, making it more accessible. The absence of significant warnings or contraindications further enhances its appeal.
Moreover, the pricing strategy supports a substantial market opportunity, with the U.S. list price set at the higher end of the expected range, indicating potential sales exceeding $5 billion from NCFB alone. Insmed’s ongoing discussions with payors are reportedly progressing well, and the company is poised to capitalize on additional indications, such as CRSsNP and HS, which could further increase revenue potential. These factors collectively justify the increased price target and the Buy rating.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $121.00 price target.