In a report released yesterday, Jessica Fye from J.P. Morgan maintained a Buy rating on Insmed, with a price target of $135.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jessica Fye has given her Buy rating due to a combination of factors that highlight Insmed’s promising future prospects. The approval of Brinsupri is a significant milestone, with expectations that it could become a multi-billion dollar product by 2033. This approval sets the stage for further updates, including competitor data in idiopathic pulmonary fibrosis (IPF), phase II data for brensocatib in chronic rhinosinusitis (CRS), and early launch performance metrics for Brinsupri.
Additionally, Insmed’s strategic approach to the payer landscape is noteworthy. The company is working towards creating a consistent reimbursement process across major payers, which is expected to facilitate a smooth launch for Brinsupri. Management’s ambition to achieve high sales figures in the initial quarters of Brinsupri’s launch, along with their confidence in the fundamentals being in place, further supports the positive outlook. Moreover, the potential of TPIP in IPF and the attractive opportunity for Arikayce in refractory NTM lung disease add to the company’s growth trajectory, justifying the Buy rating.
INSM’s price has also changed dramatically for the past six months – from $83.830 to $127.210, which is a 51.75% increase.