Insmed price target raised to $206 from $204 at Mizuho

Mizuho raised the firm’s price target on Insmed (INSM) to $206 from $204 and keeps an Outperform rating on the shares. The firm cites the positive top-line data from the Phase 3 ENCORE study evaluating Arikayce as a first line treatment for mycobacterium avium complex for the target boost. ENCORE was a “clear success,” with key efficacy endpoints for label expansion in the U.S. and Japan met, the analyst tells investors in a research note.