HC Wainwright cuts PT on Insmed after skin condition study failure

Insmed

08/04/2026 11:27

** Brokerage HC Wainwright cuts PT on drugmaker Insmed INSM.O to $220 from $245, keeps rating at "Buy"

** Co said on Tuesday it will stop developing brensocatib for hidradenitis suppurativa, a painful skin disease that causes inflamed lumps, after a mid-stage study missed its main goal

** Co says the study failed to show a meaningful reduction in abscesses and inflamed nodules versus placebo at tested doses

** Co says the drug was well tolerated with no new safety issues, including at the highest dose studied

** Brokerage says the setback does not change its main view and allows Insmed to focus on other pipeline drugs

** As of last close, INSM stock down ~6% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))