Insmed (NASDAQ:INSM – Free Report) The price target was raised by TD Cowen from $75.00 to $98.00 in a research note published on Friday, Benzinga reports. They currently issue a buy rating on the biopharmaceutical company’s stock.
Several other equities analysts have also commented on INSM. Truist Financial increased their price target on Insmed from $68.00 to $88.00 and gave the stock a buy rating in a research note on Monday, July 1st. Guggenheim increased their price target on Insmed from $70.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, July 9th. The Goldman Sachs Group increased their price target on Insmed from $74.00 to $102.00 and gave the stock a buy rating in a report on Wednesday, July 10th. HC Wainwright increased their price target on shares of Insmed from $70.00 to $90.00 and gave the company a buy rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company raised their price target on shares of Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a research report on Wednesday, May 29. One analyst has rated the stock with a sell rating and sixteen have assigned the stock a buy rating. Based on data from MarketBeat, Insmed currently has an average rating of Moderate Buy and an average price target of $79.38.
Read our latest stock report on INSM
Insmed trading up 0.2%
NASDAQ:INSM opened at $74.10 on Friday. The company has a 50-day moving average of $68.82 and a 200-day moving average of $42.24. The company has a market cap of $11.01 billion, a price-to-earnings ratio of -14.15 and a beta of 1.16. Insmed has a twelve-month low of $21.21 and a twelve-month high of $78.87.
Insmed (NASDAQ:INSM – Get Free Report) last released its earnings results on Thursday, August 8. The biopharmaceutical company reported earnings per share of -$1.94 for the quarter, missing the consensus estimate of -$1.22 by -$0.72. The company had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. Insmed’s revenue grew 17.0% year over year. During the same period last year, the company posted earnings per share of -$1.78. On average, research analysts forecast that Insmed will post earnings per share of -$4.71 for the current year.
Insider activities at Insmed
In other Insmed news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction that occurred on Tuesday, May 14. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the sale, the CEO now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Martina MD Flammer sold 21,195 shares of Insmed stock in a transaction dated Thursday, May 30. The shares were sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the completion of the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction that occurred on Tuesday, May 14. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the transaction, the CEO now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The disclosure for this sale can be found here. In the last three months, insiders have sold 295,842 shares of the company’s stock, valued at $13,762,062. Company insiders own 4.60% of the company’s stock.
Institutional trading by Insmed
Several large investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake in shares of Insmed by 9.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 77,839 shares of the biopharmaceutical company’s stock valued at $5,215,000 after buying an additional 6,691 shares in the last quarter. Sofinnova Investments Inc. increased its stake in Insmed by 127.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 227,747 shares of the biopharmaceutical company’s stock valued at $15,259,000 after buying an additional 127,747 shares in the last quarter. Edgestream Partners LP acquired a new stake in shares of Insmed in the 2nd quarter valued at about $540,000. Dimensional Fund Advisors LP acquired a new stake in shares of Insmed during the 2nd quarter valued at approximately $810,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Insmed by 211.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 175,464 shares of the biopharmaceutical company’s stock valued at $11,756,000 after acquiring an additional 119,214 shares during the last quarter.
About Insmed
(Get free report)
Insmed Incorporated is a global biopharmaceutical company dedicated to improving 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 lung disease Mycobacterium avium complex (MAC) as part of antibacterial combination therapy for adult patients with limited or no alternative treatment options.
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