Aug. 14 at 2:54 PM
H.C. Wainwright⬆️
$INSM PT to
$240 from
$120/reit'd Buy.
DNA -
$RHHBY SGEN -
$PFE $LQDA $UTHR MRK AZN
H.C. Wainwright said in its note to investors: With the approval of Brinsupri (brensocatib), we believe Insmed in now poised to join the ranks of Genentech and Seagen, to name just two examples, of companies that have successfully deployed the "pipeline-in-a-pill" strategy.
We believe that, with time, Brinsupri (and its next generation versions), with its clean safety profile and ease of prescribing, will be shown to have effect in a broad range of neutrophil mediated diseases, beyond the already large commercial opportunity that exists within non-CF bronchiectasis. Coupled with Arikayce's continued commercial success and data which now suggests that TPIP may be a best-in-class inhaled therapy for pulmonary hypertension, we believe Insmed is well positioned to potentially double from current levels. As such we are raising our price target to
$240 from
$120 and reiterate our Buy rating.