Insmed (NASDAQ:INSM) PT Raised to $63.00

Insmed (NASDAQ:INSMGet Free Report) had its target price raised by equities researchers at Barclays from $40.00 to $63.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective would suggest a potential upside of 10.57% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Guggenheim upped their price objective on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Morgan Stanley lifted their price objective on Insmed from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. The Goldman Sachs Group lifted their price objective on Insmed from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price objective on shares of Insmed in a report on Monday, April 1st. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

Read Our Latest Analysis on INSM

Insmed Trading Up 6.4 %

NASDAQ:INSM opened at $56.98 on Wednesday. The stock has a market cap of $8.47 billion, a P/E ratio of -10.89 and a beta of 0.93. The stock’s 50-day moving average is $27.49 and its 200-day moving average is $27.65. Insmed has a 1-year low of $18.31 and a 1-year high of $58.82.

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (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 period last year, the firm posted ($1.17) earnings per share. Insmed’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Insmed will post -4.52 EPS for the current year.

Insider Activity

In related news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, 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 approximately $3,139,406.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 in the company, valued at approximately $9,802,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the transaction, the insider now directly owns 123,259 shares in the company, valued at $3,139,406.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

A number of large investors have recently bought and sold shares of INSM. Comerica Bank increased its stake in shares of Insmed by 3,984.1% during the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock valued at $1,344,000 after buying an additional 48,327 shares during the period. Kennedy Capital Management LLC bought a new stake in Insmed in the first quarter worth $267,000. Hood River Capital Management LLC boosted its holdings in Insmed by 6.3% in the first quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock worth $26,113,000 after acquiring an additional 56,682 shares in the last quarter. Capital International Investors bought a new position in shares of Insmed during the first quarter valued at $43,973,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Insmed during the first quarter valued at $442,000.

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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