Insmed price target raised to $102 from $90 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Insmed (INSM) to $102 from $90 and keeps an Overweight rating on the shares. Results from the Phase 2b trial evaluating treprostinil palmitil inhalation powder hit a “home run” scenario, showing significant efficacy across primary and secondary endpoints, the analyst tells investors. Following the data, the firm raised its view of the odds of success in pulmonary arterial hypertension to 85% from 55% and is boosting peak sales estimates “significantly.”