Insmed rallies strongly following Piper Jaffray PT hike

|By:, SA News Editor

Piper Jaffray raises its price target for Insmed (INSM) to $45 from $34, well above the company's close of $16.61 on Friday.

Piper's move comes a week after UBS and Wedbush downgraded Insmed and slashed their PTs to $7 from $18.

Insmed's shares tumbled following the downgrades but are +10.2% at $18.30 premarket.