TD Cowen analysts raised their price target to Insmed (NASDAQ:) to $67.00 (from $45.00) while maintaining a Buy rating.
Analysts commented: “We believe this AM’s best case scenario, ASPEN data provides an 80%+ chance of approval in the US, EU and Japan. Given a clinically significant effect size with strong statistical significance, as well as strong statistics and/or trends in key secondary endpoints. (especially FEV1 and QoL-B), we project full approval and model peak sales of $3.4 billion using a $30K gross price at launch and 40% peak market share.”