Insmed, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jason Zemansky from Bank of America Securities reiterated a Buy rating on the stock and has a $187.00 price target.
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Jason Zemansky has given his Buy rating due to a combination of factors that highlight Insmed’s promising prospects. The initial strong support for Brinsupri, particularly among academic and community pulmonologists, suggests a favorable market reception. The survey conducted by the team indicates that prescribers have a positive view of Brinsupri’s efficacy and are planning to treat a significant portion of their patients with this therapy, which could lead to increased diagnosis and usage.
Furthermore, the barriers to Brinsupri’s adoption appear manageable, with minimal payer pushback and strong company support enhancing its market potential. The anticipated growth in the non-cystic fibrosis bronchiectasis patient base and the potential for Insmed’s TPIP to capture a substantial share of the idiopathic pulmonary fibrosis market further strengthen the company’s outlook. These factors, combined with an increase in revenue forecasts and a raised price objective, underpin Zemansky’s Buy rating for Insmed.
Zemansky covers the Healthcare sector, focusing on stocks such as Cytokinetics, Kura Oncology, and Insmed. According to TipRanks, Zemansky has an average return of 18.0% and a 59.34% success rate on recommended stocks.
In another report released on October 23, UBS also maintained a Buy rating on the stock with a $194.00 price target.