Insmed (INSM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 12. Analyst Graig Suvannavejh from Mizuho Securities reiterated a Buy rating on the stock and has a $35.00 price target.
Geoff Meacham has given his Buy rating due to a combination of factors concerning the competitive landscape and the potential market expansion for Insmed’s key product, Arikayce. The recent clinical setback for AN2 Therapeutics, a potential competitor, has resulted in a voluntary pause in their Phase 3 enrollment due to efficacy concerns. This pause is a net positive for Insmed as it diminishes the immediate threat of competition, allowing Insmed to further solidify and potentially expand Arikayce’s market share in the treatment of refractory Mycobacterium avium complex (MAC) lung disease.
Moreover, Insmed’s Arikayce is not only already approved for refractory MAC lung disease but is also undergoing Phase 3 studies for use in front-line settings, positioning it favorably should competitors like AN2 Therapeutics falter. Additionally, the anticipated data from the ASPEN study for Insmed’s second most advanced asset, brensocatib, could serve as a significant inflection point for the stock. With a robust catalyst-rich calendar projected over the next 12-18 months and a potential 22% upside on the 12-month price target, Insmed’s stock presents an attractive opportunity, warranting the Buy rating from Mizuho Securities.
In another report released on February 12, Barclays also maintained a Buy rating on the stock with a $37.00 price target.
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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.
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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.
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