Insmed upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Insmed (INSM) to Overweight from Equal Weight with a price target of $212, up from $166. The firm says its survey suggests Brinsupri prescribing is “deepening and physician confidence is building.” Morgan Stanley is now confident in the drug’s longer-term launch trajectory. This supports a higher valuation for Insmed shares, the analyst tells investors in a research note. The firm estimates the company’s 2026 U.S. Brinsupri sales of $1.2B, with $209M in Q1.