Insmed price target raised to $74 from $67 at Stifel

Stifel analyst Stephen Willey raised the firm’s price target on Insmed to $74 from $67 and keeps a Buy rating on the shares following last week’s disclosure of positive topline ASPEN data and management’s commercial webinar to provide additional perspective. The firm is increasing its annualized brensocatib pricing estimate to $57,000 per year, up from a previous forecast of $45,000, while keeping its addressable patient and utilization estimates unchanged.