TD Cowen raised the firm’s price target on Insmed (INSM) to $243 from $241 and keeps a Buy rating on the shares. The firm updated its model following the release of Ph3 ENCORE trial of Arikayce in flNTM which showed showed best-case data. The company will will file a US sNDA (for full approval, label expansion) and submit data to JP PMDA in 2H26. Ph2 brenso data in HS is due 2Q with low PoS; Ph2 OLE high dose TPIP data in PAH is due 2H26.
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