Insmed (NASDAQ:INSM) Price Target Raised to $95.00

Insmed (NASDAQ:INSM) had its target price increased by Guggenheim from $70.00 to $95.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price target on Insmed from $55.00 to $77.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. TD Cowen lifted their target price on Insmed from $45.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Insmed in a research report on Thursday, June 20th. Morgan Stanley boosted their target price on Insmed from $40.00 to $43.00 and gave the stock an overweight rating in a research report on Friday, May 10th. Finally, Mizuho boosted their target price on Insmed from $36.00 to $82.00 and gave the stock a buy rating in a research report on Friday, June 7th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed presently has an average rating of Moderate Buy and an average price target of $71.88.

Insmed Stock Up 5.4 %

Shares of Insmed stock opened at $77.03 on Tuesday. Insmed has a 1-year low of $20.01 and a 1-year high of $77.26. The business’s fifty day moving average price is $50.32 and its two-hundred day moving average price is $35.59.

Insmed (NASDAQ:INSM) 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 firm had revenue of $75.50 million for the quarter, compared to analyst estimates of $77.76 million. During the same quarter last year, the business posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts predict that Insmed will post -4.71 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, 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 transaction, the chief financial officer now owns 117,481 shares in the company, valued at $2,974,618.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insmed news, 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 transaction, the chief financial officer now owns 117,481 shares in the company, valued at $2,974,618.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 21,195 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $55.00, for a total value of $1,165,725.00. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Insmed

Large investors have recently made changes to their positions in the stock. Rafferty Asset Management LLC boosted its stake in shares of Insmed by 17.4% during the 4th quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock worth $9,950,000 after acquiring an additional 47,563 shares in the last quarter. Kingdon Capital Management L.L.C. bought a new stake in shares of Insmed during the 4th quarter worth about $12,551,000. Artia Global Partners LP bought a new stake in shares of Insmed during the 4th quarter worth about $2,322,000. Norges Bank bought a new stake in shares of Insmed during the 4th quarter worth about $45,029,000. Finally, Walleye Capital LLC bought a new stake in shares of Insmed during the 3rd quarter worth about $1,820,000.

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.