UBS Group Boosts Insmed (NASDAQ:INSM) Price Target to $58.00

Insmed (NASDAQ:INSMGet Free Report) had its price target increased by UBS Group from $46.00 to $58.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s price target indicates a potential upside of 23.75% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wolfe Research started coverage on Insmed in a research note on Thursday, February 15th. They set an “outperform” rating and a $42.00 price objective for the company. Barclays boosted their price objective on Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday. HC Wainwright boosted their price objective on Insmed from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim boosted their price objective on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Truist Financial boosted their price target on Insmed from $48.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

Get Our Latest Analysis on Insmed

Insmed Stock Down 2.5 %

Shares of Insmed stock traded down $1.19 during trading hours on Wednesday, reaching $46.87. 2,143,832 shares of the stock traded hands, compared to its average volume of 2,065,243. The company has a 50 day moving average price of $26.34 and a 200 day moving average price of $27.27. The firm 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 one year low of $18.31 and a one year high of $50.10.

Insmed (NASDAQ:INSMGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) earnings per share. Sell-side analysts anticipate that Insmed will post -4.52 earnings per share for the current year.

Insider Transactions at Insmed

In other news, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Adsett sold 7,857 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.50, for a total value of $200,353.50. Following the sale, the chief operating officer now directly owns 155,220 shares in the company, valued at $3,958,110. The disclosure for this sale can be found here. Insiders have sold 46,231 shares of company stock valued at $1,177,186 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. International Assets Investment Management LLC purchased a new stake in Insmed during the 4th quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Insmed in the 1st quarter valued at $33,000. Fidelis Capital Partners LLC bought a new position in shares of Insmed during the 1st quarter worth $34,000. Headlands Technologies LLC bought a new position in shares of Insmed during the 1st quarter worth $59,000. Finally, Quarry LP bought a new position in shares of Insmed during the 4th quarter worth $116,000.

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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Analyst Recommendations for Insmed (NASDAQ:INSM)

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