Insmed (NASDAQ:INSM) Price Target Raised to $84.00 at UBS Group

Insmed (NASDAQ:INSM) had its target price hoisted by UBS Group from $78.00 to $84.00 in a report issued on Friday, Benzinga reports. UBS Group currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the topic of several other reports. StockNews.com raised Insmed from a sell rating to a hold rating in a research report on Tuesday, May 14th. HC Wainwright upped their target price 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. Stifel Nicolaus lifted their price target on shares of Insmed from $74.00 to $88.00 and gave the stock a buy rating in a research note on Friday. Guggenheim upped their price objective on shares of Insmed from $70.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, Bank of America reaffirmed a buy rating and set a $83.00 target price on shares of Insmed in a research report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed currently has a consensus rating of Moderate Buy and an average price target of $79.19.

Insmed Stock Up 0.1 %

INSM opened at $74.09 on Friday. The company has a 50 day moving average of $68.82 and a two-hundred day moving average of $42.35. Insmed has a 52-week low of $21.21 and a 52-week high of $78.87. The company has a market cap of $11.01 billion, a P/E ratio of -14.17 and a beta of 1.16.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the business posted ($1.78) earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts anticipate that Insmed will post -4.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Drayton Wise sold 7,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total transaction of $390,951.08. Following the completion of the transaction, the insider now directly owns 121,657 shares of the company’s stock, valued at $6,057,302.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Drayton Wise sold 7,852 shares of Insmed stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $49.79, for a total value of $390,951.08. Following the sale, the insider now directly owns 121,657 shares in the company, valued at approximately $6,057,302.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $5,874,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,611 shares of company stock valued at $12,584,876. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of Insmed during the fourth quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Insmed during the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Insmed during the 1st quarter worth about $34,000. First Horizon Advisors Inc. lifted its stake in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Insmed in the first quarter valued at approximately $59,000.

About Insmed

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.