Insmed price target raised to $52 from $50 at Guggenheim

Guggenheim raised the firm’s price target on Insmed to $52 from $50 and keeps a Buy rating on the shares after the company announced that its Phase 3 ARISE study of ARIKAYCE in patients with newly diagnosed or recurrent nontuberculous mycobacterial, NTM, lung infection caused by Mycobacterium avium complex, MAC, who had not started antibiotics met its primary objective. The firm had expected positive results, but the data are “cleaner and more convincingly positive than we had anticipated,” the analyst tells investors.