Brensocatib's 2025 Launch Will Transform Bronchiectasis Care

Insmed’s consensus price target has surged to $148.44, driven by the FDA approval and strong commercial prospects for Brinsupri, expanded pipeline potential, and robust Phase 2 results for TPIP—underscoring significant upward revisions in revenue and profit expectations.

Analyst Commentary

• Bullish analysts are raising price targets following FDA approval of Brinsupri as the first therapy for non-cystic fibrosis bronchiectasis, citing a broad label with both doses approved, clean safety profile, and inclusion of favorable FEV1 and secondary endpoint data in prescribing information.
• Strong commercial prospects for Brinsupri underlie valuation upgrades, with upside surprises on launch pricing ($88,000 per year) and peak sales projections ranging from $5B to as high as $7B in the lead indication, and additional blockbuster potential in other neutrophil-mediated diseases.
• The “pipeline-in-a-pill” potential is highlighted, as multiple analysts expand their valuation models to include future indications for Brinsupri, such as chronic rhinosinusitis and hidradenitis suppurativa, with assumed launches in 2027–2028.
• Recent Phase 2 data for treprostinil palmitil inhalation powder (TPIP) in pulmonary arterial hypertension (PAH) exceeded expectations, leading to increased peak revenue forecasts and further supporting Insmed’s long-term growth thesis.
• One bearish analyst cites Insmed’s valuation already reflecting near-term opportunity post-approval, resulting in a relative downgrade despite positive views on pipeline and commercial launch readiness.

What's in the News

• The FDA approved Insmed’s BRINSUPRI (brensocatib) as the first and only therapy for non-cystic fibrosis bronchiectasis (NCFB), supported by positive Phase 2 and 3 data, with commercial launches in Europe, the UK, and Japan anticipated pending further approvals.
• Maxor Specialty Pharmacy, a VytlOne company, was selected as a limited distribution provider for BRINSUPRI, now available by prescription in the U.S.
• Insmed announced positive topline Phase 2b results for treprostinil palmitil inhalation powder (TPIP) in pulmonary arterial hypertension (PAH), meeting primary and all secondary endpoints.
• The company reiterated full-year 2025 global ARIKAYCE revenue guidance at $405–$425 million, indicating double-digit growth over 2024.
• Insmed completed a follow-on equity offering of $750 million and was added to multiple Russell value and growth indices while being dropped from some small-cap and growth benchmarks; recent lock-up agreements cover executive share sales until mid-August.

Valuation Changes

Summary of Valuation Changes for Insmed

• The Consensus Analyst Price Target has significantly risen from $120.12 to $148.44.
• The Net Profit Margin for Insmed has significantly risen from 4.03% to 8.97%.
• The Future P/E for Insmed has significantly fallen from 399.96x to 203.54x.