Insmed price target raised to $97 from $88 at Stifel

Stifel raised the firm’s price target on Insmed (INSM) to $97 from $88 and keeps a Buy rating on the shares. While acknowledging M&A speculation will “remain part of the near-term investor narrative,” the firm believes a “constellation of important FY25 clinical catalysts” and recently-improved regulatory clarity into a potential brensocatib launch should improve sentiment regarding Insmed’s “ability to join the ranks of those select few biotechs capable of independently making the leap to large-cap status.” The firm’s updated model mostly reflects higher FY26 and later brensocatib sales estimates, reflecting management’s recent pricing, volume and discounting commentary, the analyst noted.