Insmed price target raised to $58 from $46 at UBS

UBS raised the firm’s price target on Insmed to $58 from $46 and keeps a Buy rating on the shares. Insmed reported results from the ASPEN study with both brensocatib doses achieving statistically significant reductions in exacerbation frequency, a clinically meaningful reduction, and safety was also consistent with results from WILLOW with no red flags across discontinuation rates or cases of severe infection, the analyst tells investors in a research note. Management believes from now through the regulatory review process, the path is noncontroversial given the strength of data presented across safety and efficacy, and a U.S. launch is anticipated in mid-2025.