Insmed

Parnassus Growth Equity Fund sold its stake in Insmed, citing that the investment thesis had largely played out after positive TPIP data and prior upward revisions to Brinsupri sales. The fund said Insmed shares fell when Brinsupri sales missed analysts' expectations and redeployed the proceeds into Twist Bioscience for a longer growth runway. Insmed shares have declined recently and trade well below their 52-week high. » More on finance.yahoo.com

At the Morgan Stanley conference Insmed reported that the BRINSUPRI launch is exceeding expectations and the annual sales forecast for the drug has been raised to $1.25–1.4 billion. The company sees U.S. peak sales potential for BRINSUPRI of over $7 billion and raised the peak sales estimate for TPIP to more than $6 billion. Japan is being expanded as an important international growth market, while Europe is waiting for clear reimbursement conditions. Management also cites pipeline progress, the use of AI and gene therapy programs as drivers, but points to risks from competition and reimbursement issues. » More on de.investing.com

Artisan Global Opportunities said Insmed was its biggest detractor in Q2 after trimming the position, citing Q1 sales modestly below elevated expectations due to concerns around discontinuation, therapy continuation and seasonality. The firm still views BRINSUPRI®'s rapid launch and uptake as encouraging and believes the therapy is on track for blockbuster-level sales and remains well tolerated. Insmed closed at $121.51 on Sept 1, returned 25.42% over the past month, is down 13.45% over 52 weeks, and has a market capitalization of $27.14 billion. » More on finance.yahoo.com