Andrew Fein, an analyst from H.C. Wainwright, reiterated the Buy rating on Insmed (INSM – Research Report). The associated price target remains the same with $52.00.
Andrew Fein has given his Buy rating due to a combination of factors surrounding Insmed’s recent developments and promising drug profile. The positive safety and tolerability data from the Phase 2 trial of treprostinil palmitil inhalation powder (TPIP) in patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD) supports its potential. Although the trial results were not overly exciting, the achievement of primary endpoints and the ability for patients to tolerate higher doses are seen as critical for the drug’s competitive edge. Moreover, the safety profile of TPIP, especially regarding oxygenation levels, and the strong patient demand, as evidenced by the over-enrollment and lower discontinuation rates compared to placebo, suggest a consistent safety profile that could differentiate TPIP in the market.
Furthermore, the anticipation of the Phase 3 ASPEN trial results for brensocatib is another reason for optimism. Fein believes that a statistically significant reduction in the rate of pulmonary exacerbations in patients with bronchiectasis by either of the doses being tested could be considered a success. A reduction rate of around 15% would be clinically meaningful, while a 20% reduction is considered a ‘homerun’ result. With potential sales opportunities estimated at $5 billion for bronchiectasis and chronic rhinosinusitis (CRS), successful topline data from the ASPEN trial could provide significant revenue upside and contribute to Insmed’s future growth potential, further justifying the Buy rating.
In another report released on May 10, Mizuho Securities also maintained a Buy rating on the stock with a $36.00 price target.
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Insmed (INSM) Company Description:
Insmed, Inc. is a biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Its first commercial product is ARIKAYCE (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. The MAC lung disease is a rare and often chronic infection that can cause irreversible lung damage and can be fatal. Its earlier-stage clinical pipeline includes INS1007, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis and other inflammatory diseases, and INS1009, an inhaled formulation of a treprostinil prodrug that may offer a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, NJ.
