H.C. Wainwright Reiterates Buy Rating on Insmed (INSM)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $220.00 price target on Insmed (NASDAQ: INSM).

The analyst commented: "Insmed’s 12-month OLE update for TPIP was positive and showed that the strong Phase 2b efficacy signal did not fade, that patients crossing over from placebo responded similarly to patients on therapy and that chronic treatment did not uncover a hidden tolerability ceiling. In our view, the data meaningfully narrows the bear case and makes it harder to dismiss TPIP’s Phase 2 data as just aggressive statistical analysis. That said, this is de-risking, but not thesis changing since it is only OLE data and cannot reproduce the evidentiary value of a randomized study. Phase 3 remains the point at which TPIP either earns its differentiated profile or gives back much of the enthusiasm created by Phase 2. Management said the study is screening patients and enrollment is running ahead of schedule, but it did not pull forward the expected timing."

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 $108.32 yesterday.

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