Insmed (INSM) Jumps as Morgan Stanley Raises PT by 28%

Insmed Inc. (NASDAQ:INSM) is one of the 10 Stocks Leaving the Market in the Dust Today.

Insmed snapped a two-day losing streak on Monday, adding 5.52 percent to close at $153.32 apiece, as investors took path from Morgan Stanley’s rating and 28-percent price target upgrade for its stock.

In a market note, Morgan Stanley raised its price target for Insmed Inc. (NASDAQ:INSM) to $212 from $166 previously, as well as its rating to “overweight” from “equal weight” amid its optimism for the latter’s Brinsupri bronchiectasis launch. The figure marked a 38 percent upside potential from its latest closing price.

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The upgrade reflected its optimism for Insmed Inc.’s (NASDAQ:INSM) treatment for non-cystic fibrosis bronchiectasis (NCFB) called Brinsupri following a US pulmonology survey of 75 pulmonologists, indicating the treatment’s durability and depth in the product launch.

Based on the study, 85 percent of respondents have already prescribed Brinsupri, with a current patient share of 12 percent.

Pulmonologists expect the number to jump to 21 percent by the end of the year, implying a nearly double growth in just nine months.

During its fourth quarter earnings call, Insmed Inc. (NASDAQ:INSM) noted low discontinuation rates and refills progressing well for Brinsupri, with more optimistic feedback for the treatment.

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