Insmed (NASDAQ:INSM) PT Raised to $88.00

Insmed (NASDAQ:INSM) had its price objective upped by equities research analysts at Truist Financial from $68.00 to $88.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price would indicate a potential upside of 36.43% from the stock’s current price.

Other analysts have also recently issued reports about the company. Barclays boosted their price objective on Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. UBS Group boosted their price target on Insmed from $46.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen boosted their price target on Insmed from $45.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Stifel Nicolaus boosted their price objective on Insmed from $39.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.31.

Insmed Trading Down 2.8 %

Shares of INSM opened at $64.50 on Monday. The business’s 50-day moving average price is $44.16 and its 200 day moving average price is $33.70. The stock has a market capitalization of $9.58 billion, a P/E ratio of -12.33 and a beta of 1.16. Insmed has a 1-year low of $19.74 and a 1-year high of $70.65.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. During the same period in the previous year, the business posted ($1.17) earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, research analysts predict that Insmed will post -4.58 earnings per share for the current year.

Insider Activity

In other news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares in the company, valued at approximately $9,802,870. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Insmed news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the transaction, the chief executive officer now directly owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares in the company, valued at $3,139,406.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,842 shares of company stock worth $13,762,062. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently made changes to their positions in the business. Rafferty Asset Management LLC boosted its position in shares of Insmed by 17.4% during the 4th quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after purchasing an additional 47,563 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new position in Insmed during the 4th quarter worth approximately $12,551,000. Artia Global Partners LP purchased a new stake in shares of Insmed in the fourth quarter worth approximately $2,322,000. Norges Bank purchased a new stake in shares of Insmed in the fourth quarter worth approximately $45,029,000. Finally, Walleye Capital LLC purchased a new stake in shares of Insmed in the third quarter worth approximately $1,820,000.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.