Insmed (NASDAQ:INSM) Sets New 1-Year High Following Analyst Upgrade

Shares of Insmed Incorporated (NASDAQ:INSM) hit a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $60.00 to $85.00. Morgan Stanley currently has an overweight rating on the stock. Insmed traded as high as $78.03 and last traded at $77.52, with a volume of 1360465 shares changing hands. The stock had previously closed at $76.71.

INSM has been the topic of a number of other research reports. HC Wainwright raised their price target on Insmed from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Truist Financial upped 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, July 1st. Mizuho boosted their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Evercore ISI raised their target price on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Finally, Barclays lifted their target price on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research report 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.50.

Insider Activity

In other Insmed news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William Lewis sold 22,198 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares in the company, valued at approximately $9,802,870. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares in the company, valued at $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold a total of 295,842 shares of company stock valued at $13,762,062 over the last quarter. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Insmed in the 4th quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in Insmed in the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new position in Insmed in the first quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in shares of Insmed in the 1st quarter worth about $59,000. Finally, CWM LLC lifted its position in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares in the last quarter.

Insmed Trading Up 1.3 %

The firm has a fifty day moving average of $51.35 and a 200 day moving average of $35.98. The company has a market capitalization of $11.54 billion, a P/E ratio of -14.70 and a beta of 1.16.

Insmed (NASDAQ:INSM) last announced its earnings results 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 business had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) earnings per share. Sell-side analysts anticipate that Insmed Incorporated will post -4.71 EPS for the current fiscal year.

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.