Insmed (NASDAQ:INSM) Stock Price Up 7.5%

Shares of Insmed Incorporated (NASDAQ:INSM) shot up 7.5% on Friday . The stock traded as high as $66.81 and last traded at $66.66. 512,956 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,548,586 shares. The stock had previously closed at $62.00.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. Wells Fargo & Company lifted their target price on Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Morgan Stanley lifted their price target 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 research note on Tuesday, May 14th. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Insmed in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Insmed from $49.00 to $74.00 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.31.

Insmed Price Performance

The stock has a 50-day simple moving average of $45.63 and a 200 day simple moving average of $34.09. The company has a market capitalization of $10.01 billion, a PE ratio of -12.81 and a beta of 1.16.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same period last year, the firm earned ($1.17) earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Insmed Incorporated will post -4.65 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 21,195 shares of the business’s 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 completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $5,837,370. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total value of $11,028,200.00. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $5,874,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $55.00, for a total value of $1,165,725.00. Following the completion of the transaction, the insider now owns 106,134 shares of the company’s stock, valued at $5,837,370. The disclosure for this sale can be found here. Insiders sold a total of 295,842 shares of company stock valued at $13,762,062 over the last three months. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Insmed in the fourth quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Insmed in the first quarter valued at $33,000. Fidelis Capital Partners LLC acquired a new position in Insmed in the first quarter valued at $34,000. Headlands Technologies LLC acquired a new position in Insmed in the first quarter valued at $59,000. Finally, Quarry LP purchased a new stake in Insmed during the fourth quarter valued at about $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.