Jefferies analyst Faisal Khurshid raised the price target on Insmed (NASDAQ: INSM) to $230.00 (from $228.00) while maintaining a Buy rating.

The analyst comments "Updating post call with model and addl thoughts: INSM reported positive topline Ph3 ENCORE data for Arikayce in 1L MAC lung infection. Data highlighted by stat sig RSS (PRO) change of +3.11pts and culture conversion 82% vs. 56%. Arikayce sNDA submission expected 2H26. This is important for two key reasons: (1) investors saw risk on PRO ep and this is a fundamental pos for Arikayce expansion, and (2) investors can now comfortably own for Brinsupri launch."