Cantor Fitzgerald Reiterates Overweight Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports.

A number of other analysts have also issued reports on INSM. Morgan Stanley boosted their target price on shares of Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Truist Financial boosted their target price on shares of Insmed from $48.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Wells Fargo & Company boosted their target price on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Mizuho boosted their target price on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, TD Cowen boosted their target price on shares of Insmed from $45.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.38.

Insmed Stock Up 5.1 %

NASDAQ INSM opened at $67.99 on Thursday. The company has a fifty day moving average of $38.28 and a two-hundred day moving average of $31.70. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of -13.00 and a beta of 1.12. Insmed has a 52 week low of $19.68 and a 52 week high of $68.08.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS 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 analysts’ expectations of $77.76 million. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.17) earnings per share. Equities research analysts anticipate that Insmed will post -4.5 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, CFO Sara Bonstein sold 11,088 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total value of $280,748.16. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $2,974,618.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sara Bonstein sold 11,088 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total transaction of $280,748.16. Following the transaction, the chief financial officer now owns 117,481 shares in the company, valued at $2,974,618.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently modified their holdings of INSM. International Assets Investment Management LLC acquired a new position in shares of Insmed during the fourth quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in shares of Insmed during the first quarter valued at about $33,000. Fidelis Capital Partners LLC purchased a new stake in Insmed in the first quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in Insmed in the first quarter valued at approximately $59,000. Finally, Quarry LP purchased a new stake in Insmed in the fourth quarter valued at approximately $116,000.

Insmed Company Profile

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.