Insmed (INSM) has received a new Buy rating, initiated by William Blair analyst, Matt Phipps.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Insmed’s potential for significant growth. The company’s strong clinical and commercial execution with its products, particularly Brinsupri, Arikayce, and TPIP, is expected to substantially enhance its valuation. Despite the impressive increase in Insmed’s stock price following positive Phase III results for Brinsupri in bronchiectasis, Phipps believes that the potential for a robust commercial launch in this multi-billion-dollar market makes Insmed an essential investment.
Furthermore, there are upcoming clinical readouts that could expand market opportunities for Insmed’s products into new indications, potentially boosting peak sales to nearly $15 billion by 2035. Phipps also notes that Insmed’s growth prospects are strong enough to continue without relying on acquisition proposals, as the company is poised to become a leading large-cap biotech firm. Drawing parallels with other successful biotech companies, he anticipates that a successful launch of Brinsupri could significantly increase Insmed’s market valuation, projecting substantial upside for the stock by 2026.
In another report released on August 15, Mizuho Securities also maintained a Buy rating on the stock with a $165.00 price target.
Based on the recent corporate insider activity of 143 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.