Insmed (NASDAQ:INSM) PT Raised to $74.00 at The Goldman Sachs Group

Insmed (NASDAQ:INSMGet Free Report) had its price objective boosted by research analysts at The Goldman Sachs Group from $49.00 to $74.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 57.88% from the stock’s current price.

Other equities analysts have also issued reports about the company. Bank of America restated a “buy” rating and set a $40.00 target price on shares of Insmed in a research report on Tuesday. Wolfe Research assumed coverage on Insmed in a research report on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Insmed from $36.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. Finally, Guggenheim boosted their target price on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.86.

Check Out Our Latest Analysis on Insmed

Insmed Stock Performance

NASDAQ:INSM traded down $1.19 on Wednesday, hitting $46.87. 2,143,832 shares of the stock were exchanged, compared to its average volume of 2,065,243. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of -9.28 and a beta of 0.93. Insmed has a 52 week low of $18.31 and a 52 week high of $50.10. The company’s 50-day moving average price is $26.34 and its 200 day moving average price is $27.27.

Insmed (NASDAQ:INSMGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.17) earnings per share. As a group, equities research analysts predict that Insmed will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer 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 is available at this hyperlink. In related news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now directly owns 384,125 shares in the company, valued at $9,802,870. The disclosure for this sale can be found here. Insiders sold a total of 46,231 shares of company stock valued at $1,177,186 in the last quarter. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new stake in Insmed in the 3rd quarter valued at about $1,820,000. Jennison Associates LLC bought a new stake in Insmed in the fourth quarter valued at approximately $3,745,000. Graham Capital Management L.P. lifted its position in shares of Insmed by 352.5% in the third quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock valued at $1,101,000 after buying an additional 33,969 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after acquiring an additional 1,024,956 shares during the period. Finally, Trexquant Investment LP increased its holdings in shares of Insmed by 898.8% during the 3rd quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock worth $7,449,000 after acquiring an additional 265,457 shares during the last quarter.

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.

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