Insmed price target raised to $208 from $205 at Stifel

Stifel analyst Stephen Willey raised the firm’s price target on Insmed (INSM) to $208 from $205 and keeps a Buy rating on the shares. The firm believes Phase 3b ENCORE results “should unequivocally establish” Arikayce as the new first-line standard-of-care therapy for the treatment of lung infection caused by nontuberculous mycobacteria-mycobacterium avium complex, the analyst tells investors, adding that the ENCORE results “appear a best-case scenario for Arikayce label expansion efforts.”