Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Insmed on September 1 and set a price target of $150.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors surrounding Insmed’s recent developments and future potential. The approval of Brinsupri (brensocatib) for non-cystic fibrosis bronchiectasis (NCFB) marks a significant milestone, with the company poised for a substantial market launch. Management anticipates that this opportunity could surpass $5.0 billion in value, highlighting the drug’s potential impact.
Furthermore, Schwartz is optimistic about the upcoming Phase 2 BiRCh study results for chronic rhinosinusitis without nasal polyps (CRSsNP), expected by the end of 2025. The study, while challenging, shows promise due to the drug’s mechanism and previous trial insights. Although there are uncertainties, particularly in the broader CRSsNP population, the potential success in specific patient subsets supports the Buy rating.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 19.8% and a 50.91% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, PTC Therapeutics, and Insmed.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $171.00 price target.