Shares of Insmed Incorporated (NASDAQ:INSM – Get Free Report) 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.
Read Our Latest Research Report on INSM
Insider Activity
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 – Get Free Report) 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.
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