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On Tuesday, TD Cowen analysts increased the price target for Insmed (NASDAQ: NASDAQ:INSM) stock to $114 from $98, while maintaining a Buy rating. The stock, currently trading near its 52-week high with a market capitalization of $16.5 billion, has caught analysts’ attention with six upward earnings revisions for the upcoming period, according to InvestingPro data. The decision follows positive outcomes from Insmed’s Phase 2 trial for PAH TPIP, which met primary, secondary, and exploratory endpoints. The trial demonstrated a statistically significant 35% reduction in PVR and a 35.5-meter improvement in the 6MWD test.
Safety and tolerability data from the trial aligned with expectations, showing low cough rates, with 85% of cases classified as mild. The company plans to initiate a Phase 3 PAH trial early in 2026.
Insmed is also anticipating the PDUFA date for Brenso on August 12, 2025. Additionally, Phase 2 data for CRSsNP Brenso is expected in the second half of 2025.
The analyst’s remarks highlighted the trial results as exceeding both their own and investor expectations, contributing to the decision to raise the price target.
In other recent news, Insmed Incorporated announced positive results from its Phase 2b study of Treprostinil Palmitil Inhalation Powder (TPIP) for pulmonary arterial hypertension (PAH). The study met its primary endpoint with a 35% placebo-adjusted reduction in pulmonary vascular resistance and achieved all secondary efficacy endpoints, including a 35.5-meter improvement in six-minute walk distance. These findings suggest TPIP’s potential as a once-daily therapy, with 75% of patients reaching the maximum dose without significant issues. Insmed plans to engage with the FDA to design Phase 3 trials, expected to begin before the end of 2025 for PH-ILD and in early 2026 for PAH.
Jefferies analysts responded by raising Insmed’s stock price target to $121 from $105, maintaining a Buy rating and increasing their peak revenue projection for the company to $2.6 billion. Truist Securities also maintained a Buy rating with a $108 price target, highlighting upcoming catalysts such as the TPIP data release in June and the PDUFA date for brensocatib in August 2025. Leerink Partners reiterated an Outperform rating, noting that the Phase 2b results exceeded expectations. These developments reflect growing confidence in Insmed’s pipeline and its potential impact on the market.
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