Insmed (NASDAQ:INSM) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Insmed (NASDAQ:INSM) in a report released on Tuesday, Benzinga reports. HC Wainwright currently has a $70.00 target price on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other research reports. TD Cowen raised their target price on shares of Insmed from $45.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Wells Fargo & Company upped their price objective on Insmed from $55.00 to $77.00 and gave the company an overweight rating in a report on Wednesday, May 29th. The Goldman Sachs Group lifted their target price on Insmed from $49.00 to $74.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Cantor Fitzgerald reissued an overweight rating on shares of Insmed in a report on Thursday, June 20th. Finally, Bank of America lifted their price objective on shares of Insmed from $62.00 to $83.00 and gave the stock a buy rating in a research note on Friday, June 28th. 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.com, Insmed presently has a consensus rating of Moderate Buy and a consensus price target of $66.31.

Insmed Trading Down 2.8 %

NASDAQ INSM opened at $64.50 on Tuesday. The company has a 50-day moving average price of $44.16 and a two-hundred day moving average price of $33.70. Insmed has a 52 week low of $19.74 and a 52 week high of $70.65. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of -12.33 and a beta of 1.16.

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 business had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same quarter in the prior year, the business earned ($1.17) earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts expect that Insmed will post -4.58 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction that occurred on 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 approximately $9,802,870. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were 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 directly owns 384,125 shares in the company, valued at $9,802,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $5,874,050. The disclosure for this sale can be found here. Insiders sold 295,842 shares of company stock valued at $13,762,062 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. International Assets Investment Management LLC bought a new stake in shares of Insmed during the 4th quarter worth $25,000. EntryPoint Capital LLC acquired a new position in Insmed during the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new stake in Insmed during the first quarter valued at about $34,000. Headlands Technologies LLC acquired a new stake in shares of Insmed in the first quarter valued at about $59,000. Finally, Quarry LP bought a new position in shares of Insmed in the fourth quarter worth 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.