Analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on Insmed (INSM – Research Report), with a price target of $50.00.
Joseph Schwartz has given his Buy rating due to a combination of factors surrounding Insmed’s prospects, particularly the anticipation of Phase 3 ASPEN data for brensocatib in non-cystic fibrosis bronchiectasis (NCFB). Schwartz’s confidence is bolstered by positive feedback from key opinion leaders (KOLs) in pulmonology, who have expressed a strong demand expectation for the drug, conditional on its approval. The perceived strengths of the brensocatib program and the unmet medical needs in NCFB underpin the optimism for a favorable risk/reward scenario for Insmed’s stock.
Schwartz’s stance is further reinforced by the potential financial implications of the ASPEN trial outcomes. He suggests that the stock could see a significant upside if the data is positive, while also acknowledging the downside risks. This balanced view, taking into account the investor sentiment and the potential market reaction to the trial results, has led Schwartz to reiterate an Outperform rating and set a price target for Insmed’s stock. The analysis reflects a comprehensive understanding of the market dynamics and the company’s strategic position within its industry.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $37.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
Based on the recent corporate insider activity of 64 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.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Insmed (INSM) Company Description:
Insmed, Inc. is a biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Its first commercial product is ARIKAYCE (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. The MAC lung disease is a rare and often chronic infection that can cause irreversible lung damage and can be fatal. Its earlier-stage clinical pipeline includes INS1007, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis and other inflammatory diseases, and INS1009, an inhaled formulation of a treprostinil prodrug that may offer a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, NJ.
Read More on INSM:
