The Goldman Sachs Group Increases Insmed (NASDAQ:INSM) Price Target to $74.00

Insmed (NASDAQ:INSMGet Free Report) had its price target upped by equities research analysts at The Goldman Sachs Group from $49.00 to $74.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 29.87% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $36.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial boosted their target price on shares of Insmed from $48.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their target price on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company reissued an “overweight” rating and set a $55.00 target price on shares of Insmed in a report on Monday, April 1st. Finally, Bank of America reaffirmed a “buy” rating and issued a $40.00 price target on shares of Insmed in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Get Our Latest Research Report on Insmed

Insmed Trading Up 6.4 %

NASDAQ:INSM opened at $56.98 on Wednesday. The stock has a market capitalization of $8.47 billion, a PE ratio of -10.89 and a beta of 0.93. The firm’s 50 day moving average is $27.49 and its 200 day moving average is $27.65. Insmed has a 12 month low of $18.31 and a 12 month high of $58.82.

Insmed (NASDAQ:INSMGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.17) EPS. Research analysts predict that Insmed will post -4.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 11,088 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total value of $280,748.16. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $2,974,618.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William Lewis sold 22,198 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were 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 of the company’s stock, valued at $9,802,870. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 11,088 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total transaction of $280,748.16. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $2,974,618.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,842 shares of company stock worth $13,762,062. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in shares of Insmed by 1.4% during the third quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock valued at $981,000 after purchasing an additional 526 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 610 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Insmed by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after purchasing an additional 622 shares during the period. Handelsbanken Fonder AB raised its position in shares of Insmed by 2.5% during the 4th quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after purchasing an additional 700 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Insmed during the 4th quarter valued at $25,000.

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.

See Also

Analyst Recommendations for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.