Insmed (NASDAQ:INSM) PT Raised to $90.00 at HC Wainwright

Insmed (NASDAQ:INSM) had its target price raised by HC Wainwright from $70.00 to $90.00 in a research note issued to investors on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Insmed’s FY2025 earnings at ($3.36) EPS, FY2026 earnings at ($1.92) EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $2.14 EPS.

A number of other research analysts also recently commented on INSM. The Goldman Sachs Group increased their price target on Insmed from $49.00 to $74.00 and gave the company a buy rating in a report on Wednesday, May 29th. Morgan Stanley increased their target price on Insmed from $40.00 to $43.00 and gave the company an overweight rating in a research note on Friday, May 10th. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $55.00 to $72.00 and gave the stock an overweight rating in a research note on Thursday, June 20th. UBS Group increased their price objective on shares of Insmed from $46.00 to $58.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, Truist Financial boosted their target price on shares of Insmed from $68.00 to $88.00 and gave the stock a buy rating in a research report on Monday, July 1st. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $71.88.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $77.03 on Monday. The firm has a market capitalization of $11.45 billion, a PE ratio of -14.73 and a beta of 1.16. Insmed has a 12 month low of $20.01 and a 12 month high of $77.26. The business has a 50-day moving average of $50.32 and a two-hundred day moving average of $35.59.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts anticipate that Insmed will post -4.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now directly owns 123,259 shares in the company, valued at $3,139,406.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Insmed news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 in the company, valued at approximately $9,802,870. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock valued at $13,762,062 over the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares during the period. Capital International Investors acquired a new position in shares of Insmed in the 1st quarter valued at $43,973,000. Norges Bank bought a new position in shares of Insmed during the 4th quarter worth about $45,029,000. Principal Financial Group Inc. boosted its position in shares of Insmed by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock valued at $39,048,000 after acquiring an additional 79,717 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Insmed by 325.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after acquiring an additional 927,040 shares in the last quarter.

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.