Insmed (NASDAQ:INSM) PT Raised to $98.00

Insmed (NASDAQ:INSM) had its price target boosted by TD Cowen from $75.00 to $98.00 in a research note released on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the stock. Mizuho upped their target price on shares of Insmed from $36.00 to $82.00 and gave the stock a buy rating in a research report on Friday, June 7th. Wells Fargo & Company raised their target price on Insmed from $55.00 to $77.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. Truist Financial boosted their price target on Insmed from $68.00 to $88.00 and gave the stock a buy rating in a research report on Monday, July 1st. Guggenheim raised their price target on Insmed from $70.00 to $95.00 and gave the company a buy rating in a report on Tuesday, July 9th. Finally, Barclays upped their price objective on shares of Insmed from $40.00 to $63.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Insmed presently has an average rating of Moderate Buy and an average target price of $79.19.

Insmed Stock Up 0.1 %

INSM opened at $74.09 on Friday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of -14.17 and a beta of 1.16. Insmed has a fifty-two week low of $21.21 and a fifty-two week high of $78.87. The company’s 50-day moving average price is $68.82 and its 200 day moving average price is $42.35.

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

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Insmed news, insider Martina M.D. Flammer sold 21,195 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the sale, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Drayton Wise sold 7,852 shares of the firm’s stock in a transaction dated 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 owns 121,657 shares of the company’s stock, valued at $6,057,302.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,611 shares of company stock worth $12,584,876. 4.60% of the stock is owned by insiders.

Institutional Trading of Insmed

A number of hedge funds have recently modified their holdings of INSM. First Horizon Advisors Inc. grew its holdings in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Insmed during the 4th quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in Insmed during the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Insmed in the 1st quarter valued at about $34,000. Finally, CWM LLC lifted its position in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter.

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.