Insmed (NASDAQ:INSM) PT Raised to $75.00 at Evercore ISI

Insmed (NASDAQ:INSM) had its price target hoisted by investment analysts at Evercore ISI from $42.00 to $75.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Evercore ISI’s price objective points to a potential upside of 10.31% from the stock’s previous close.

Several other research analysts have also commented on INSM. TD Cowen raised their price objective 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. Mizuho boosted their price target on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Morgan Stanley increased their price objective on Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Stifel Nicolaus upped their price target on Insmed from $39.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $62.38.

Insmed Stock Up 5.1 %

NASDAQ:INSM opened at $67.99 on Friday. Insmed has a 52 week low of $19.68 and a 52 week high of $68.08. The stock’s fifty day moving average is $38.28 and its two-hundred day moving average is $31.73. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -13.00 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $77.76 million. During the same quarter in the prior year, the firm posted ($1.17) EPS. Insmed’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts expect that Insmed will post -4.5 EPS for the current fiscal year.

Insider Activity

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 transaction of $280,748.16. Following the sale, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $2,974,618.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Sara Bonstein sold 11,088 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total value of $280,748.16. Following the completion of the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $2,974,618.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,842 shares of company stock worth $13,762,062. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

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