Wells Fargo & Company Reiterates Overweight Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSMGet Free Report)‘s stock had its “overweight” rating reissued by stock analysts at Wells Fargo & Company in a report released on Monday, Benzinga reports. They currently have a $55.00 price objective on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 109.13% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. UBS Group assumed coverage on shares of Insmed in a research note on Tuesday, February 27th. They set a “buy” rating and a $46.00 target price for the company. Wolfe Research assumed coverage on shares of Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target for the company. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Guggenheim lifted their price target on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $45.10.

View Our Latest Report on INSM

Insmed Stock Down 1.6 %

Shares of NASDAQ INSM opened at $26.30 on Monday. Insmed has a twelve month low of $16.25 and a twelve month high of $32.00. The firm has a fifty day simple moving average of $27.70 and a 200 day simple moving average of $26.92. The company has a market capitalization of $3.91 billion, a PE ratio of -4.93 and a beta of 0.92.

Insmed (NASDAQ:INSMGet Free Report) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The company had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. During the same period in the previous year, the company earned ($1.20) earnings per share. The firm’s revenue was up 41.1% compared to the same quarter last year. As a group, equities analysts expect that Insmed will post -4.65 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, COO Roger Adsett sold 5,251 shares of Insmed stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $28.63, for a total transaction of $150,336.13. Following the completion of the transaction, the chief operating officer now directly owns 148,559 shares of the company’s stock, valued at approximately $4,253,244.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Insmed news, insider John Drayton Wise sold 1,167 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $29.32, for a total value of $34,216.44. Following the completion of the transaction, the insider now directly owns 115,690 shares in the company, valued at $3,392,030.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Adsett sold 5,251 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $28.63, for a total transaction of $150,336.13. Following the completion of the transaction, the chief operating officer now owns 148,559 shares of the company’s stock, valued at $4,253,244.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,421 shares of company stock valued at $2,323,648. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Insmed by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,763,771 shares of the biopharmaceutical company’s stock worth $333,571,000 after acquiring an additional 356,555 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Insmed by 3.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,374,675 shares of the biopharmaceutical company’s stock worth $167,327,000 after acquiring an additional 307,913 shares in the last quarter. Palo Alto Investors LP grew its holdings in Insmed by 0.3% during the 1st quarter. Palo Alto Investors LP now owns 5,889,491 shares of the biopharmaceutical company’s stock worth $100,416,000 after acquiring an additional 18,200 shares in the last quarter. Finally, Bellevue Group AG grew its holdings in Insmed by 0.9% during the 1st quarter. Bellevue Group AG now owns 3,551,776 shares of the biopharmaceutical company’s stock worth $83,467,000 after acquiring an additional 30,915 shares in the last quarter.

Insmed Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Insmed (NASDAQ:INSM)

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