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Insmed gains on revenue forecasts raise

By Reuters News

** Shares of drugmaker Insmed INSM.O advance 14.7% to $11.39, set for their biggest daily jump in over two months

** Co raises annual revenue forecast to $1.35 bln to $1.40 billion from its lung disease treatment Brinsupri, from $1.25 bln to $1.4 bln

** Also raises expectation of revenue from Arikayce, its drug for Mycobacterium avium complex (MAC) lung disease, to between $460 mln and $470 mln from $450 mln to $470 mln

** Q3 revenue also beat expectations, marking the 10th consecutive quarter of revenue beat, per LSEG-compiled data

** Robust demand for Brinsupri in the US market and Arikayce in international markets support forecast raise - co

** 24 analysts rate stock "buy" or higher, 1 "hold", median PT at $196.50 - LSEG

** Stock still down 36% YTD, including session's move

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