Insmed (NASDAQ:INSM) Rating Reiterated by HC Wainwright

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $70.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 5.52% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Mizuho raised their target price on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Stifel Nicolaus upped their target price on Insmed from $39.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Evercore ISI increased their target price on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Truist Financial boosted their price target on shares of Insmed from $68.00 to $88.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays increased their price objective on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.31.

Insmed Stock Down 1.0 %

Insmed stock opened at $66.34 on Tuesday. Insmed has a 52 week low of $19.74 and a 52 week high of $70.65. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of -12.68 and a beta of 1.16. The business’s 50-day moving average price is $43.38 and its 200 day moving average price is $33.45.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating 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. During the same period last year, the firm earned ($1.17) earnings per share. Insmed’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts expect that Insmed will post -4.58 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the transaction, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction dated 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 owns 123,259 shares in the company, valued at approximately $3,139,406.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at $5,837,370. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 over the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Large investors have recently modified their holdings of the stock. Capital International Investors purchased a new position in Insmed during the first quarter worth about $43,973,000. Norges Bank acquired a new position in Insmed during the 4th quarter worth approximately $45,029,000. Vanguard Group Inc. lifted its holdings in shares of Insmed by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after buying an additional 1,024,956 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Insmed in the first quarter valued at approximately $25,242,000. Finally, Assenagon Asset Management S.A. grew its holdings in Insmed by 325.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after acquiring an additional 927,040 shares during the period.

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.