Insmed Forecasts ≥$1B Brinsupri Sales, Mizuho Keeps $204 Price Target
In fiscal 2025, Insmed generated $606.4M in revenues, including full-year Brinsupri sales of $172.7M and Arikayce sales of $433.8M (+19%), ending with $1.4B cash. Management projects 2026 Brinsupri revenues of at least $1B and reiterated $450M–$470M Arikayce guidance while Mizuho maintained an Outperform rating with a $204 target.
1. Q4 and Full-Year 2025 Results
Insmed posted total revenues of $606.4M for fiscal 2025, driven by product performance. Brinsupri recorded $144.6M in Q4 sales and $172.7M for the full year, while Arikayce delivered $119.2M in Q4 and $433.8M for the year, a 19% annual increase that exceeded guidance. The company closed the year with $1.4B in cash, cash equivalents, and marketable securities.
2. 2026 Revenue Guidance
The company forecasts full-year 2026 Brinsupri revenues of at least $1B and reaffirmed Arikayce revenue guidance of $450M to $470M. Management's outlook underscores confidence in product adoption and continued expansion within rare disease markets.
3. Analyst Rating Update
Following the Q4 report, Mizuho adjusted its price target on Insmed shares to $204 from $211 while maintaining an Outperform rating. The update reflects highly positive feedback on the Brinsupri launch alongside a cautious valuation adjustment.