Insmed (NASDAQ:INSM) Stock Rating Reaffirmed by HC Wainwright

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $90.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 17.69% from the stock’s current price.

INSM has been the subject of several other research reports. UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Evercore ISI upped their price target on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Thursday, June 20th. Finally, StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $79.19.

Insmed Stock Up 0.2 %

NASDAQ INSM opened at $76.47 on Thursday. The company has a market cap of $11.36 billion, a price-to-earnings ratio of -14.62 and a beta of 1.16. Insmed has a 52 week low of $21.65 and a 52 week high of $80.53. The business has a 50 day moving average price of $73.30 and a 200-day moving average price of $47.16.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted ($1.78) EPS. On average, equities research analysts anticipate that Insmed will post -4.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its position in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Insmed during the 4th quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed during the 1st quarter valued at $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed during the 1st quarter valued at $34,000. Finally, CWM LLC lifted its position in shares of Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares during the last quarter.

About Insmed

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.