Truist Financial Increases Insmed (NASDAQ:INSM) Price Target to $88.00

Insmed (NASDAQ:INSM) had its target price raised by equities research analysts at Truist Financial from $68.00 to $88.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price target points to a potential upside of 31.34% from the company’s current price.

INSM has been the topic of a number of other research reports. TD Cowen lifted 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. Evercore ISI boosted their target price on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Wells Fargo & Company lifted their price target on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Stifel Nicolaus increased their price objective on shares of Insmed from $39.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, HC Wainwright raised their price objective on shares of Insmed from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.31.

Insmed Stock Performance

NASDAQ:INSM opened at $67.00 on Monday. Insmed has a fifty-two week low of $19.74 and a fifty-two week high of $70.65. The firm has a market cap of $9.96 billion, a PE ratio of -12.81 and a beta of 1.16. The business has a 50 day moving average price of $42.54 and a 200-day moving average price of $33.18.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) earnings per share. Research analysts predict that Insmed will post -4.58 EPS for the current year.

Insiders Place Their Bets

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 completion of the sale, the chief financial officer now owns 117,481 shares of the company’s stock, valued at approximately $2,974,618.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William Lewis sold 22,198 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now directly owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $2,974,618.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,842 shares of company stock valued at $13,762,062. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INSM. International Assets Investment Management LLC bought a new position in shares of Insmed during the 4th quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new position in Insmed during the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC bought a new position in shares of Insmed in the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of Insmed in the first quarter worth $59,000. Finally, Quarry LP bought a new stake in shares of Insmed during the 4th quarter valued at $116,000.

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.