Insmed (NASDAQ:INSM) PT Raised to $77.00

Insmed (NASDAQ:INSMGet Free Report) had its price objective lifted by investment analysts at Wells Fargo & Company from $55.00 to $77.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 64.28% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Guggenheim raised their target price on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of Insmed from $49.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group raised their target price on shares of Insmed from $46.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Finally, Barclays raised their target price on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

Check Out Our Latest Stock Analysis on INSM

Insmed Stock Performance

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

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $77.76 million. The firm’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 company posted ($1.17) EPS. As a group, equities research analysts anticipate that Insmed will post -4.52 EPS for the current year.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 11,088 shares of Insmed stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total value of $280,748.16. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $2,974,618.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value 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 legal filing with the SEC, which is accessible through this link. Also, CFO Sara Bonstein sold 11,088 shares of Insmed stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total transaction of $280,748.16. Following the completion of the transaction, the chief financial officer now owns 117,481 shares in the company, valued at $2,974,618.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,231 shares of company stock worth $1,177,186. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its position in Insmed by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 526 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 610 shares in the last quarter. Essex Investment Management Co. LLC increased its position in Insmed by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock worth $2,947,000 after purchasing an additional 622 shares in the last quarter. Handelsbanken Fonder AB increased its position in Insmed by 2.5% during the 4th quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock worth $886,000 after purchasing an additional 700 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Insmed during the 4th quarter worth about $25,000.

About Insmed

(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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