Insmed price target raised to $77 from $55 at Wells Fargo

Wells Fargo analyst Tiago Fauth raised the firm’s price target on Insmed to $77 from $55 and keeps an Overweight rating on the shares. As the firm expected, the ASPEN Phase 3 readout was a clear win. The data significantly strengthened brenso’s profile as a potential first-in-disease treatment for bronchiectasis, a multi-billion-dollar potential indication.