11:24 AM EDT, 03/30/2026 (MT Newswires) -- Insmed ( INSM ) is seeing growing physician adoption of its Brinsupri therapy, with new survey data indicating expanding use and rising confidence in the drug's long-term potential, Morgan Stanley said in a report Monday.

Brinsupri is a prescription drug developed by Insmed ( INSM ) to treat non-cystic fibrosis bronchiectasis.

A survey of 75 US pulmonologists showed 85% have prescribed Brinsupri to at least one patient. With patient share around 12% and expected to climb to 21% by year-end, this suggests rapid uptake and deeper prescribing trends, according to the report.

The investment bank said the data signal that early prescriptions are "translating into repeat prescribing and sustained patient flow across pulmonology practices," supported by positive refill trends and low discontinuation rates, improving visibility into 2026 and 2027 revenues.

Brinsupri is expected to generate about $1.2 billion in US sales in 2026, including roughly $209 million in Q1, according to Morgan Stanley. It projects peak US sales of $8.57 billion by 2035, above consensus estimates.

Despite risks such as "payer friction" and patient cost barriers, the investment bank upgraded Insmed ( INSM ) to overweight from equal-weight and raised the price target to $212 from $166, citing increased confidence in the drug's "launch trajectory" and valuation upside.

Price: 153.15, Change: +7.85, Percent Change: +5.40