Analyst Ashwani Verma from UBS maintained a Buy rating on Insmed and keeping the price target at $194.00.
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Ashwani Verma has given his Buy rating due to a combination of factors including the promising potential of Insmed’s product pipeline and the positive insights from expert opinions. The recent expert call highlighted the use of Brinsupri, which has been prescribed to a significant number of patients, indicating its growing acceptance in the medical community. Additionally, the ongoing Phase 2b BiRCh trial for brensocatib in CRSsNP shows potential for meaningful clinical outcomes, as a reduction in sTSS scores could be significant for patient treatment.
Furthermore, while there are theoretical concerns about the efficacy of brensocatib in patients with higher eosinophil levels, these have not been observed in related trials, suggesting a broader applicability of the treatment. The analyst also considers the financial metrics and market position of Insmed, which appear favorable based on UBS’s valuations and estimates. These elements combined contribute to a positive outlook for Insmed’s stock, justifying the Buy rating.
In another report released on October 17, Wells Fargo also maintained a Buy rating on the stock with a $171.00 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.