Insmed initiated with a Buy at Rothschild & Co Redburn

Rothschild & Co Redburn initiated coverage of Insmed (INSM) with a Buy rating and $263 price target The firm believes the company is well positioned in “large” therapy areas with limited competition. The company’s of Brinsupri, a first-in-class therapy for bronchiectasis, should see strong uptake given the lack of competitors, the analyst tells investors in a research note. Rothschild thinks Brinsupri has peak sales of $12B, above the consensus median of $10B.