Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Insmed (INSM – Research Report) on February 2 and set a price target of $118.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors including the promising developments in Insmed’s pipeline, particularly with their Treprostinil Palmitil Inhalation Powder (TPIP). The additional Phase 2 data presented at the Pulmonary Vascular Research Institute conference highlights TPIP’s potential in treating pulmonary hypertension associated with interstitial lung disease (PH-ILD), bringing attention to an underappreciated aspect of Insmed’s portfolio.
Schwartz emphasizes the importance of not overlooking TPIP, despite the focus on Insmed’s brensocatib, which has shown positive Phase 3 results for non-cystic fibrosis bronchiectasis. With peak sales expectations communicated by management, TPIP presents a significant opportunity, especially with upcoming Phase 2 data in mid-2025. The recent data suggests that TPIP may aid in small vessel vasodilation and improve pulmonary arteriole recruitment, which underlines its potential impact in a market embracing new therapeutic approaches. These insights collectively support Schwartz’s optimistic view on Insmed’s stock.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 12.0% and a 42.30% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as PTC Therapeutics, Ultragenyx Pharmaceutical, and Insmed.
In another report released yesterday, Truist Financial also reiterated a Buy rating on the stock with a $105.00 price target.