Leerink analyst Joseph Schwartz raised his price target for Insmed shares to $36 citing this morning's "better-than-expected" top-line results from the company's Phase 3 study for Alis in nontuberculous mycobacterium lung disease. The stock in midday trading is up 106%, or $13.06, to $25.35. The analyst continues to project a U.S. market launch in 2019 and now estimates peak revenue of $1.6B by 2031. Label expansion opportunities and earlier regulatory approvals may present further upside, Schwartz tells investors in a research note. He reiterates an Outperform rating on Insmed.