Mizuho Securities raised its price target on Insmed Inc. to $195 from $192 and maintained an Outperform rating, following Japan’s approval of Brinsupri for non-cystic fibrosis bronchiectasis in adults and pediatric patients aged 12 or older.
The upgrade reflects a 100% probability of success for Brinsupri in Japan, up from a prior 90% estimate, and comes as Insmed’s shares trade at $123.98, implying roughly 55% upside to the new target. H.C. Wainwright maintained its $220 price target and Buy rating on the stock.
Insmed’s market capitalization stands at $27.1 billion. The company now projects combined peak sales for its three main assets to exceed $14 billion, driven by Brinsupri’s projected Q2 2026 revenue of $309.2 million in its third full quarter on the market. Arikayce contributed $116.3 million in Q2, an 8% year-over-year increase.
Mizuho also raised its full-year 2026 revenue outlook for Brinsupri to a range of $1.25 billion to $1.4 billion. The revisions follow Insmed’s August 6 earnings report, which showed Q2 revenue above expectations and upwardly revised guidance for Brinsupri and TPIP.
Since August 6, Insmed shares have declined 6%, while the XBI biotechnology index rose 7%. Analysts tracked by InvestingPro have revised earnings estimates upward for the period, with a consensus rating score of 1.22, indicating a strong buy recommendation among 12 analysts.
