TD Cowen raised the firm’s price target on Insmed (INSM) to $269 from $231 and keeps a Buy rating on the shares. The firm called it a Best Idea for four reasons. Brenso’s CRSsNP opportunity remains underappreciated, TPIP’s potential in PAH, PH-ILD and IPF remains discounted due to skepticism around prodrug activation and IP overhang, and its appeal to generalist investors rotating into biotech.
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