Insmed (NASDAQ:INSM) Price Target Raised to $77.00 at Wells Fargo & Company

Insmed (NASDAQ:INSMGet Free Report) had its price target hoisted by equities researchers at Wells Fargo & Company from $55.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 35.14% from the company’s previous close.

INSM has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on Insmed from $49.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday. Wolfe Research began coverage on shares of Insmed in a research note on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price for the company. HC Wainwright boosted their price target on shares of Insmed from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial increased their price objective on shares of Insmed from $48.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average target price of $55.67.

Get Our Latest Analysis on Insmed

Insmed Price Performance

Shares of NASDAQ:INSM opened at $56.98 on Wednesday. The business’s 50 day moving average price is $27.49 and its 200-day moving average price is $27.65. Insmed has a 1 year low of $18.31 and a 1 year high of $58.82. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of -10.89 and a beta of 0.93.

Insmed (NASDAQ:INSMGet Free Report) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $77.76 million. Insmed’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.17) EPS. On average, sell-side analysts expect that Insmed will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the sale, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at approximately $9,802,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Drayton Wise sold 5,088 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the sale, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 295,842 shares of company stock worth $13,762,062. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INSM. International Assets Investment Management LLC purchased a new position in Insmed during the fourth quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed during the 1st quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Insmed in the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in Insmed in the first quarter valued at approximately $59,000. Finally, Quarry LP acquired a new position in Insmed during the fourth quarter worth approximately $116,000.

About Insmed

(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.

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