Insmed downgraded at Morgan Stanley despite FDA nod for lung therapy

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Morgan Stanley downgraded Insmed (NASDAQ:INSM) to Equal Weight from Overweight on Wednesday, citing concerns over the biotech’s valuation, a day after the FDA approved its lung disorder therapy, Brinsupri.
On Tuesday, Bridgewater, New Jersey-based Insmed (NASDAQ:INSM) announced that the

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