Insmed price target raised to $140 from $130 at Wells Fargo

Wells Fargo analyst Tiago Fauth raised the firm’s price target on Insmed (INSM) to $140 from $130 and keeps an Overweight rating on the shares following FDA approval for Brinsupri as a treatment for non-cystic fibrosis bronchiectasis. The firm said the approval was expected, though expectations on other indications remain fairly low. Wells Fargo added that pricing came in at the high end of prior guidance, supporting a potential market opportunity of over $5B.