Insmed price target raised to $110 from $105 at UBS

UBS raised the firm’s price target on Insmed (INSM) to $110 from $105 and keeps a Buy rating on the shares. Phase 2 data for treprostinil palmitil inhalation powder, or TPIP, in Pulmonary Arterial Hypertension are due around mid-2025, which will examine Insmed’s TPIP, a prodrug of treprostinil, in PAH, the analyst tells investors in a research note. The firm’s analysis suggests that as of the initial 40 patients in the blended/ blinded data that pulmonary vascular resistance reductions in the range of 27%-32% are possible, and while the risk/reward is skewed to the downside, the firm has confidence in a positive outcome.