Insmed price target raised to $68 from $48 at Truist

Truist raised the firm’s price target on Insmed to $68 from $48 and keeps a Buy rating on the shares. The analyst cites the firm’s greater confidence into brensocatib potential approval following the positive ASPEN results and supported by its key opinion leader call last week. Truist is also raising its brensocatib peak sales view to about $3.3B from $2.5B in bronchiectasis indication, adding that with positive ASPEN data, it sees multiple inflection points for Insmed over the next 12-18 months.