H.C. Wainwright raised the firm’s price target on Insmed (INSM) to $120 from $90 and keeps a Buy rating on the shares. The firm says investors have now seen the positive Phase 2A and Phase 2B studies from Insmed for treprostinil palmitil inhalation powder in pulmonary arterial hypertension patients. The firm believes successful Phase 2 progress across endpoints in PAH development has “overwhelmingly translated positively to Phase 3 and subsequent FDA approval.”
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