Guggenheim bullish on Brenso, initiates Insmed with a Buy

Guggenheim analyst Vamil Divan initiated coverage of Insmed with a Buy rating and $50 price target, calling it a Best Idea in the firm’s coverage universe. While the analyst is encouraged by the success of Arikayce to date, the firm’s bullish view is driven primarily by the firm’s expectations for brensocatib in bronchiectasis, where the analyst has “seen impressive Phase 2 data and expect positive Phase 3 data in 2Q 2024.”