Competitive Pressures Prompt Truist to Cut Target on Insmed (INSM)

Vardah Gill

Wed, May 20, 2026 at 6:15 AM EDT 2 min read

With a 5-year average revenue growth rate of 23.8%, Insmed Incorporated (NASDAQ:INSM) is included among the 11 Best Long Term US Stocks to Buy Right Now.

On May 13, Truist lowered the firm’s price target on Insmed Incorporated (NASDAQ:INSM) to $185 from $205 while maintaining a Buy rating on the shares. The analyst said the firm updated its model following Q1 results, taking into account recent competitive developments and adjusting Brinsupri estimates based on physician feedback gathered after earnings.

During the Q1 2026 earnings call, President, CEO, and Chairman William Lewis said BRINSUPRI, the company’s once-daily oral reversible inhibitor of dipeptidyl peptidase 1 (DPPI), delivered 44% sequential growth. He added that management remained confident in its 2026 revenue outlook of at least $1 billion. Lewis also said the company did not raise the price of BRINSUPRI at the start of 2026 and noted that the impact from inventory stocking during the quarter was minimal.

Discussing demand trends, Lewis estimated that about 1,500 of the nearly 7,800 new patients who started treatment during the quarter came from the company’s “ready and waiting” patient group. He added that management believed the boost tied to those patients had mostly played out as the company moved into the second quarter. Lewis also pointed to positive trends in patient access and adherence. He said the approval rate since launch had been close to 90% and noted that more than 80% of patients using BRINSUPRI had joined the company’s inLighten patient support program.

Insmed Incorporated (NASDAQ:INSM) is a global biopharmaceutical company focused on developing approved and investigational medicines, along with advancing drug discovery programs.

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