Insmed (NASDAQ:INSM) PT Raised to $83.00

Insmed (NASDAQ:INSM) had its price objective hoisted by investment analysts at Bank of America from $62.00 to $83.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 23.88% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group increased their price objective on Insmed from $49.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Wells Fargo & Company increased their price objective on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. HC Wainwright increased their price objective on Insmed from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Truist Financial increased their price objective on Insmed from $48.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Stifel Nicolaus increased their price objective on Insmed from $39.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.06.

Insmed Trading Up 0.1 %

NASDAQ:INSM opened at $67.00 on Friday. The firm has a market capitalization of $9.96 billion, a PE ratio of -12.81 and a beta of 1.12. The stock has a 50 day moving average of $42.54 and a 200-day moving average of $33.15. Insmed has a 52 week low of $19.74 and a 52 week high of $70.65.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the company posted ($1.17) earnings per share. As a group, analysts predict that Insmed will post -4.58 EPS for the current fiscal year.

Insider Activity

In other news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction 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 completion of the sale, the insider now owns 123,259 shares in the company, valued at approximately $3,139,406.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction 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 completion of the sale, the insider now owns 123,259 shares in the company, valued at approximately $3,139,406.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the sale, the chief financial officer now owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 295,842 shares of company stock worth $13,762,062. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of hedge funds have recently modified their holdings of the business. Comerica Bank lifted its holdings in shares of Insmed by 3,984.1% in the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock valued at $1,344,000 after purchasing an additional 48,327 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Insmed in the first quarter valued at $267,000. Hood River Capital Management LLC lifted its holdings in shares of Insmed by 6.3% in the first quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock valued at $26,113,000 after purchasing an additional 56,682 shares in the last quarter. Capital International Investors purchased a new stake in shares of Insmed in the first quarter valued at $43,973,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Insmed in the first quarter valued at $442,000.

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.