Insmed (NASDAQ:INSM) Given New $88.00 Price Target at Truist Financial

Insmed (NASDAQ:INSM) had its price target boosted by Truist Financial from $68.00 to $88.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on INSM. JPMorgan Chase & Co. boosted their price target on Insmed from $55.00 to $72.00 and gave the stock an overweight rating in a report on Thursday, June 20th. Wells Fargo & Company boosted their price target on Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. TD Cowen boosted their price target on Insmed from $45.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Evercore ISI boosted their price target on Insmed from $42.00 to $75.00 and gave the stock an outperform rating in a report on Friday, June 21st. Finally, HC Wainwright upped their target price on Insmed from $52.00 to $70.00 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $66.31.

Insmed Stock Performance

INSM opened at $66.34 on Monday. The business’s fifty day moving average is $43.38 and its two-hundred day moving average is $33.45. The company has a market cap of $9.86 billion, a price-to-earnings ratio of -12.68 and a beta of 1.16. Insmed has a one year low of $19.74 and a one year 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, topping analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted ($1.17) earnings per share. On average, analysts predict that Insmed will post -4.58 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 22,198 shares of the business’s 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 sale, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the sale, the chief executive officer now owns 384,125 shares of the company’s stock, valued at $9,802,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,842 shares of company stock valued at $13,762,062. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its holdings in Insmed by 17.4% in the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after purchasing an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new position in Insmed in the fourth quarter valued at about $12,551,000. Artia Global Partners LP purchased a new position in Insmed in the fourth quarter valued at about $2,322,000. Norges Bank purchased a new position in Insmed in the fourth quarter valued at about $45,029,000. Finally, Walleye Capital LLC purchased a new position in Insmed in the third quarter valued at about $1,820,000.

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.