Mizuho lowered the firm’s price target on Insmed (INSM) to $202 from $206 and keeps an Outperform rating on the shares. The company announced negative Phase 2b data for brensocatib in hidradenitis suppurativa, the analyst tells investors in a research note. Mizuho removed the opportunity from Insmed’s model. A “silver lining was that the study confirmed brenso’s excellent safety/tolerability profile,” the analyst tells investors in a research note.
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