Mizuho reduced Insmed’s price target amid a 29% share decline but sees the selloff as a buying opportunity for the biopharma stock.
Mizuho lowered its price target for Insmed Incorporated (NASDAQ:INSM) to $192 from $202 while maintaining an Outperform rating. The firm cited a 29% share decline since the first-quarter report as an overreaction, calling the sentiment shift “shocking.” Mizuho remains confident in Insmed’s pipeline, including BRINSUPRI.
Insmed’s stock has faced pressure despite its focus on rare disease treatments and pipeline advancements. The company recently appointed Samuele Butera to lead its respiratory therapeutic area, aiming to support BRINSUPRI’s launch and ARIKAYCE’s expansion.
No immediate market reaction was disclosed following the rating adjustment or executive appointment.