JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - Stifel raised its price target on Insmed (NASDAQ:INSM) to $145 from $121 while maintaining a Buy rating following FDA approval of Brinsupri (brensocatib). The stock, currently trading at $122.87, has shown remarkable momentum with a 78% gain year-to-date and is approaching its 52-week high of $123.42.
Brinsupri received approval as the first therapy for non-CF bronchiectasis (NCFBE) with both 10mg and 25mg daily doses approved for adults and adolescents without specification for prior exacerbation history.
The approval included FEV1 data in the efficacy section, which Stifel noted was an "upside surprise" based on key opinion leader discussions, along with safety precautions reflecting on-mechanism adverse events related to dermatologic and periodontal/gingival issues.
Insmed set the launch price at $88,000 per year for both doses, higher than Stifel’s previous estimate of $82,000 per year and landing "on the higher side of management’s guidance."
Stifel increased its fiscal year 2025 Brinsupri estimates by approximately 10% based on the pricing and approximately 250 basis points of additional gross-to-net leverage, while also adjusting its model to reflect a Q4 2029 TPIP approval in PHILD, earlier than its previous first half 2030 projection.
In other recent news, Insmed has received FDA approval for Brinsupri (brensocatib) for the treatment of non-cystic fibrosis bronchiectasis in patients aged 12 and older. This approval has led to several financial analysts revising their price targets for the company. TD Cowen increased its price target to $154, maintaining a Buy rating, highlighting the approval’s clean label without market-limiting warnings. RBC Capital also raised its price target to $138, describing the label as a "best-case scenario" with no major warnings. Mizuho set its price target at $165, updating its model with revised assumptions across multiple indications. Wells Fargo adjusted its target to $140, noting the US pricing was at the high end of previous guidance. UBS also raised its target to $140, emphasizing the broad label and absence of significant warnings. These developments reflect the positive reception of Brinsupri’s approval among analysts.
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