Insmed (NASDAQ:INSM) Price Target Raised to $88.00

Insmed (NASDAQ:INSM) had its price target lifted by investment analysts at Truist Financial from $68.00 to $88.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price would suggest a potential upside of 36.43% from the company’s current price.

Several other research firms also recently weighed in on INSM. Evercore ISI boosted their price target on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. TD Cowen upped their target price on Insmed from $45.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group upped their target price on Insmed from $49.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. HC Wainwright upped their price target on Insmed from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Mizuho upped their price target on Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.31.

Insmed Trading Down 2.8 %

INSM opened at $64.50 on Monday. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of -12.33 and a beta of 1.16. Insmed has a 12 month low of $19.74 and a 12 month high of $70.65. The stock has a fifty day moving average price of $44.16 and a 200-day moving average price of $33.70.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $77.76 million. During the same quarter last year, the firm earned ($1.17) earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Insmed will post -4.58 EPS for the current year.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 21,195 shares of the firm’s 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 transaction, the insider now directly owns 106,134 shares in the company, valued at $5,837,370. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 value of $1,165,725.00. Following the sale, the insider now directly owns 106,134 shares in the company, valued at $5,837,370. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Drayton Wise sold 5,088 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 295,842 shares of company stock worth $13,762,062 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Insmed during the fourth quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed during the first quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed during the first quarter worth about $34,000. Headlands Technologies LLC purchased a new position in shares of Insmed during the first quarter worth about $59,000. Finally, Quarry LP purchased a new position in shares of Insmed during the fourth quarter worth about $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.