Insmed price target raised to $92 from $83 at JPMorgan

JPMorgan raised the firm’s price target on Insmed (INSM) to $92 from $83 and keeps an Overweight rating on the shares. The firm sees 2025 bringing the start of brensocatib’s U.S. launch in bronchiectasis, “layering on to steady Arikayce growth,” and it expects “several interesting” clinical readouts over the next 12 months. JPMorgan continues to see brensocatib as Insmed’s most important driver with over $7B in peak sales potential. The company will execute from a clinical and commercial perspective, the analyst tells investors in a research note.