Insmed added to ‘Q2 Tactical Ideas List’ at Wells Fargo

Wells Fargo added Insmed to the firm’s Q2 Tactical Ideas List. Wells says the brenso readout is a high-stake catalyst, and it thinks Arikayce and TPIP offer a floor of high teens/low twenties. The firm’s survey confirms a low bar for efficacy/high willingness to prescribe. Wells thinks the implied probability of success is low and sees attractive r/r in Insmed. The firm has an Overweight rating on the shares with a price target of $55.