Insmed (INSM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jessica Fye from J.P. Morgan maintained a Buy rating on the stock and has a $90.00 price target.
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Jessica Fye’s rating is based on several promising developments for Insmed. The company is approaching a significant period with two major catalysts: the phase IIb TPIP data in pulmonary arterial hypertension (PAH) and the potential approval and launch of brensocatib in bronchiectasis. Insmed has set clear expectations for the TPIP trial outcomes, particularly in terms of pulmonary vascular resistance and six-minute walk distance, which are crucial for investor confidence.
Additionally, the mid-cycle review for brensocatib showed no surprises, and the company maintains strong communication with regulators, indicating a smooth path towards approval. The potential market for brensocatib in bronchiectasis is substantial, with a significant number of patients in the U.S. potentially benefiting from the treatment. Overall, Insmed is executing well both clinically and commercially, and there is optimism for the upcoming data releases, which supports the Buy rating.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $96.00 price target.