1. Insmed Inc. (NASDAQ:INSM)
Market Capitalization as of September 13: $12.83 billion
Number of Hedge Fund Holders: 74
Insmed Inc. (NASDAQ:INSM) is a global biopharmaceutical company on a mission to transform the lives of patients living with serious and rare diseases through innovative therapies. Its products target a range of diseases, including pulmonary arterial hypertension (PAH) and non-tuberculous mycobacteriosis (NTM).
In the second quarter of 2024, Insmed Inc. (NASDAQ:INSM) reported $90.34 million in revenue, up 16.98% year-over-year. However, the loss per share came out at $1.94. The revenue growth was primarily driven by the sales of ARIKAYCE (amikacin liposome inhalation suspension), which is the company’s flagship product for treating refractory Mycobacterium avium complex (MAC) lung disease.
The company is currently engaged in the ongoing Phase 2 study for TPIP in patients with pulmonary arterial hypertension (PAH), which is progressing well, with over 75% of target enrollment completed. Topline results are expected to be reported in the second half of 2025. It is also advancing its development of brensocatib for bronchiectasis and other neutrophil-mediated diseases, with significant positive data reported from recent trials.
CEO Will Lewis emphasized that Q2 2024 marks a pivotal moment for Insmed Inc. (NASDAQ:INSM) as it transitions into a mid-cap biotechnology firm. He expressed confidence in the company’s strategic direction and its potential to address serious unmet medical needs through innovative therapies. It’s one of our top mid-cap stocks to buy and a compelling investment opportunity in the biopharmaceutical sector.
Columbia Acorn Fund stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2024 investor letter:
“Insmed Incorporated (NASDAQ:INSM) is a commercial-stage biopharmaceutical company focused primarily on treatments for pulmonary disease. The stock meaningfully outperformed during the quarter following positive Phase III data for its Brensocatib (Brenso) drug in treating non -cystic fibrosis bronchiectasis (NCFB). While the stock has roughly doubled since the beginning of the year, we are maintaining the overweight position as Brenso could be a potential game changer for the company, given a multi-billion-dollar total addressable market and no other approved NCFB therapies on the market.”
While we acknowledge the growth potential of Insmed Inc. (NASDAQ:INSM), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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