Insmed (NASDAQ:INSM) Price Target Raised to $68.00

Insmed (NASDAQ:INSMFree Report) had its price objective boosted by Truist Financial from $48.00 to $68.00 in a report issued on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on INSM. HC Wainwright raised their price target on Insmed from $52.00 to $70.00 and gave the company a buy rating in a research report on Wednesday. StockNews.com raised Insmed from a sell rating to a hold rating in a research note on Tuesday, May 14th. Bank of America reaffirmed a buy rating and set a $40.00 price objective on shares of Insmed in a research note on Tuesday, May 28th. UBS Group assumed coverage on Insmed in a research note on Tuesday, February 27th. They set a buy rating and a $46.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Insmed from $40.00 to $49.00 and gave the company a buy rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $56.38.

Read Our Latest Analysis on INSM

Insmed Stock Down 3.4 %

NASDAQ INSM opened at $55.05 on Wednesday. The stock’s 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $27.89. Insmed has a twelve month low of $18.31 and a twelve month high of $58.82. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -10.53 and a beta of 0.93.

Insmed (NASDAQ:INSMGet Free Report) last released its quarterly earnings results 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 firm had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $77.76 million. During the same quarter in the previous year, the business earned ($1.17) EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts expect that Insmed will post -4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 220,564 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total value of $11,028,200.00. Following the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $5,874,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Insmed news, CFO Sara Bonstein sold 220,564 shares of Insmed stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value 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 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 ninety days. 4.60% of the stock is owned by insiders.

Institutional Trading of Insmed

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Insmed during the 4th quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed during the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed during the first quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new position in shares of Insmed during the first quarter valued at approximately $59,000. Finally, Quarry LP purchased a new position in shares of Insmed during the fourth quarter valued at approximately $116,000.

Insmed Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Insmed (NASDAQ:INSM)

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