Insmed (INSM) brensocatib shows strong physician conviction alongside a broad prescribing intent that can enable a significant growth opportunity as doctors develop experience with the drug, RBC Capital Markets said in a Friday note.

The brokerage said its key opinion leader has depicted a strong growth opportunity for brensocatib, marketed as Brinsupri, in his practice based on its compelling efficacy with no new exacerbations observed to date in his experience, strong safety with no discontinuations in more than 60 patients and only a single dose reduction, and a generally permissive payer environment, albeit with some pockets of stringency such as the VA system.

The KOL mentioned that patient enthusiasm for Brinsupri is notably high with many patients already having heard about the drug through support groups, RBC said, adding that compliance is strong, attributed to it being a once-daily oral pill relative to more burdensome existing regimens.

The investment firm added that it continues to see upside to the company's $1 billion sales estimate for the drug in 2026.

RBC lowered its price target to $195 from $205 and maintained its outperform rating.

Shares of Insmed were down more than 7.7% in Friday trading.

Price: 96.90, Change: -8.03, Percent Change: -7.65