Measured Optimism and Caution: Maxwell Skor’s Hold Rating on Insmed Amid Promising Brinsupri Launch

Analyst Maxwell Skor of Morgan Stanley maintained a Hold rating on Insmed, retaining the price target of $144.00.

Maxwell Skor has given his Hold rating due to a combination of factors that reflect both optimism and caution regarding Insmed’s prospects. The early indicators for Brinsupri’s launch are promising, with stronger than expected initial prescriptions and smoother Medicare access. However, the data is still in its early stages, and Skor remains cautious, waiting for more comprehensive results from the first full quarter of sales, which are anticipated in January.
Skor’s analysis includes benchmarking Brinsupri’s launch against similar products like Tezspire and Dupixent, which have shown significant revenue growth in their initial quarters. Although Insmed’s preparations for Brinsupri’s launch are extensive, Skor’s estimates for future sales are slightly above these analogs, reflecting a measured optimism. The uncertainty surrounding payer dynamics and the need for more data to confirm the initial positive trends contribute to the Hold rating, as Skor advises a balanced approach until more information is available.