Insmed (INSM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Andrew Fein from H.C. Wainwright reiterated a Buy rating on the stock and has a $90.00 price target.
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Andrew Fein has given his Buy rating due to a combination of factors influencing Insmed’s potential growth and market position. Despite some reservations from a key opinion leader regarding the initial adoption of brensocatib for bronchiectasis, there is significant enthusiasm among physicians and patients. Insmed has reported that 90% of surveyed doctors are likely to prescribe brensocatib for patients with multiple exacerbations, and there’s notable patient interest as reflected by nearly 900,000 visits to the disease-state website.
In addition to the optimism surrounding brensocatib, Insmed is strategically preparing for its launch by enhancing its commercial infrastructure. The company has expanded its sales force and is focusing on educational initiatives to increase awareness of the drug’s benefits. Looking ahead, the potential market for brensocatib in treating Chronic Rhinosinusitis without Nasal Polyps (CRSsNP) presents another growth opportunity, with a Phase 2b study currently underway. These strategic moves and market opportunities underpin Fein’s confidence in Insmed’s future performance, justifying the Buy rating.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $96.00 price target.