Insmed price target raised to $40 from $37 at BofA

BofA analyst Jason Zemansky raised the firm’s price target on Insmed to $40 from $37 and keeps a Buy rating on the shares. Insmed shares continue to face pressure, which the firm thinks is largely due to skepticism over DPP-1 inhibitor brensocatib ahead of the pivotal ASEPN readout. However, the firm ultimately thinks concerns are overdone and sees “ample room” to achieve peak sales nearing Insmed’s greater than $5B peak guidance for NCFB and CRSsNP indications, the analyst tells investors.