J.P. Morgan analyst Jessica Fye has maintained their bullish stance on INSM stock, giving a Buy rating today.
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Jessica Fye has given her Buy rating due to a combination of factors related to Insmed’s potential in the idiopathic pulmonary fibrosis (IPF) market. The recent positive data from UTHR’s phase III TETON 2 trial is seen as a favorable indicator for Insmed’s TPIP, which could be a competitor to Tyvaso. Insmed plans to advance TPIP into phase III development for IPF, and the current stock price does not fully reflect this opportunity.
Fye’s analysis suggests that if TPIP successfully enters the IPF market, it could significantly enhance Insmed’s valuation. With an 80% probability of success and a potential market opportunity valued between $2.25 billion to $2.75 billion, TPIP could add substantial value per share. Although there are differing opinions on the timeline for market entry, Fye’s outlook remains optimistic about Insmed’s strategic positioning and potential growth in the IPF space.
According to TipRanks, Fye is a 5-star analyst with an average return of 10.0% and a 55.85% success rate. Fye covers the Healthcare sector, focusing on stocks such as Insmed, Alnylam Pharma, and Ascendis Pharma.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $171.00 price target.