BofA raised the firm’s price target on Insmed to $37 from $35 and keeps a Buy rating on the shares after “solid results” from the NTM-PD ARISE study. The firm, which argues that the update significantly exceeded expectations given the relative “cleanliness” of the data, raised its view on the odds of success in first-line expansion to 80% from 70% and moved its launch timelines to 2025 from 2024, driving its EPS estimate changes.
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