In a report released today, Ashwani Verma from UBS maintained a Buy rating on Insmed, with a price target of $194.00.
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Ashwani Verma has given his Buy rating due to a combination of factors that highlight the potential for Insmed’s product, Brinsupri, in the treatment of NCFB. The survey conducted with pulmonologists indicates a promising uptake of Brinsupri, with physicians already initiating therapy for a significant number of patients. This suggests a strong demand for the drug, which is expected to capture a substantial market share in the coming years.
Furthermore, Verma notes that despite some insurance pushback, the overall ease of obtaining prior authorizations and the unmet need in the NCFB market support the drug’s potential success. The possibility of expanding Brinsupri’s use to asthma and COPD patients further enhances its market opportunity. These factors, combined with projected peak sales and market share, underpin Verma’s optimistic outlook on Insmed’s stock.
In another report released on October 13, Evercore ISI also maintained a Buy rating on the stock with a $180.00 price target.
Based on the recent corporate insider activity of 147 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.