Insmed price target raised to $245 from $230 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Insmed (INSM) to $245 from $230 and keeps a Buy rating on the shares. Recently announced positive ENCORE data shift the discussion around Arikayce from “a simple TAM-expansion story to a more focused debate” about which patients get treated, how early they get treated, and how long they should realistically remain on therapy, the analyst tells investors. The firm says key opinion leader physicians with which it spoke “viewed the data as potentially practice-changing,” the analyst added.