Tiago Fauth, an analyst from Wells Fargo, maintained the Buy rating on Insmed (INSM – Research Report). The associated price target was raised to $119.00.
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Tiago Fauth has given his Buy rating due to a combination of factors related to Insmed’s promising developments in their TPIP program. The Phase 2 results for TPIP showcased a significant reduction in pulmonary vascular resistance (PVR), surpassing expectations and demonstrating potential as a leading inhaled prostacyclin therapy. This achievement, coupled with the convenience of dosing, positions TPIP as a differentiated option in the treatment of pulmonary arterial hypertension (PAH).
Furthermore, the unexpected improvement in the six-minute walk distance (6MWD) was a positive surprise, indicating a substantial benefit without adverse effects in the placebo group. The safety profile of TPIP, particularly concerning cough rates, compares favorably with existing treatments, reinforcing its potential market position. These factors, along with an increased probability of success and projected peak sales, underpin Fauth’s optimistic outlook and the raised price target of $119.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $94.00 price target.
Based on the recent corporate insider activity of 120 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.