Insmed’s (INSM) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Insmed (NASDAQ:INSM) in a research report report published on Thursday, Benzinga reports. HC Wainwright currently has a $90.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on the stock. Guggenheim raised their price objective on shares of Insmed from $70.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, July 9th. StockNews.com cut shares of Insmed from a hold rating to a sell rating in a research note on Friday, August 9th. Barclays lifted their price objective on Insmed from $40.00 to $63.00 and gave the stock an overweight rating in a research report on Wednesday, May 29th. Stifel Nicolaus boosted their price target on Insmed from $74.00 to $88.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their price objective on shares of Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Insmed presently has a consensus rating of Moderate Buy and an average target price of $79.19.

Insmed Trading Down 0.3 %

Shares of INSM opened at $76.33 on Thursday. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of -14.59 and a beta of 1.16. The firm’s fifty day simple moving average is $73.13 and its 200-day simple moving average is $46.82. Insmed has a twelve month low of $21.65 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the business earned ($1.78) earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Insmed will post -4.71 earnings per share for the current fiscal year.

Institutional Trading of Insmed

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after buying an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Insmed in the 2nd quarter valued at $237,076,000. Principal Financial Group Inc. increased its stake in Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after purchasing an additional 218,480 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Capital International Investors acquired a new position in Insmed during the 1st quarter worth approximately $43,973,000.

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.