Mizuho maintained an Outperform rating on Insmed Incorporated and lowered its price target to $192 from $202, citing a buying opportunity after a 29% share decline since the company's first-quarter report. The firm expressed confidence in Insmed and its BRINSUPRI product, calling the recent shift in investor sentiment shocking. Separately, Insmed appointed Samuele Butera as Senior Vice President and General Manager, Global Respiratory, to lead the respiratory therapeutic area and support the launch of BRINSUPRI, the potential label expansion of ARIKAYCE, and the development of the TPIP program.
Insmed IncMizuho maintained Outperform rating and lowered price target only slightly, calling the 29% decline a buying opportunity.