Cantor Fitzgerald Reiterates Overweight Rating on Insmed (INSM) Ahead of Q2 Results

Cantor Fitzgerald analyst Olivia Brayer reiterated an Overweight rating and $235.00 price target on Insmed (NASDAQ: INSM).

The analyst commented, "There's still a lot of interest in INSM. But the stock has been stuck in neutral for the past few months, with investors waiting for the next catalyst that gets the story moving again...There really shouldn't be much debate here. Management has already acknowledged that Symphony TRx scripts are a good proxy for commercial demand (on a proportional basis), which makes this one of the easier launch quarters to model. Using weekly script data, we get to ~$285M in 2Q Brinsupri sales. It's not a perfect exercise given quarterly cut-offs and gross-to-net timing, but it's close enough that we think expectations should be anchored around this range. We've heard some investors looking for $290-300M, but the script data don't support numbers that high in our view. To us, 2Q revenue itself probably isn't where the surprise comes from."

For an analyst ratings summary and ratings history on Insmed click here. For more ratings news on Insmed click here.

Shares of Insmed closed at $104.73 yesterday.

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