Stifel raised the firm’s price target on Insmed (INSM) to $145 from $121 and keeps a Buy rating on the shares following FDA’s recent approval of Brinsupri as the first approved therapy for treatment of non-CF bronchiectasis. The firm believes the inclusion of FEV1 data in the efficacy section of the prescribing information and a launch price of $88,000 per year for both doses are “upside surprises,” the analyst tells investors.
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