HC Wainwright Increases Insmed (NASDAQ:INSM) Price Target to $90.00

Insmed (NASDAQ:INSMGet Free Report) had its price target increased by equities researchers at HC Wainwright from $70.00 to $90.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 28.08% from the stock’s current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Thursday, June 20th. Wells Fargo & Company boosted their price target on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Barclays increased their price objective on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. TD Cowen boosted their target price on shares of Insmed from $45.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Mizuho raised their price target on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.13.

Get Our Latest Stock Analysis on Insmed

Insmed Trading Up 0.3 %

Shares of INSM opened at $70.27 on Monday. Insmed has a 52 week low of $19.74 and a 52 week high of $71.32. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of -13.44 and a beta of 1.16. The stock has a 50 day moving average of $48.35 and a 200-day moving average of $35.03.

Insmed (NASDAQ:INSMGet Free Report) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. During the same quarter in the previous year, the firm earned ($1.17) EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts predict that Insmed will post -4.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred 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 transaction, the insider now owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction 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 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 available at the SEC website. Also, CFO Sara Bonstein sold 11,088 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total value of $280,748.16. Following the sale, the chief financial officer now owns 117,481 shares in the company, valued at approximately $2,974,618.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Insmed

Several large investors have recently added to or reduced their stakes in INSM. RVW Wealth LLC acquired a new stake in shares of Insmed in the second quarter worth $284,000. Transcend Capital Advisors LLC acquired a new stake in Insmed during the 2nd quarter worth about $314,000. Comerica Bank boosted its position in Insmed by 3,984.1% during the 1st quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock worth $1,344,000 after acquiring an additional 48,327 shares during the period. Kennedy Capital Management LLC purchased a new position in Insmed during the 1st quarter valued at about $267,000. Finally, Hood River Capital Management LLC increased its holdings in shares of Insmed by 6.3% in the 1st quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock valued at $26,113,000 after purchasing an additional 56,682 shares during the period.

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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Analyst Recommendations for Insmed (NASDAQ:INSM)

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