Brokerages Set Insmed Incorporated (NASDAQ:INSM) Price Target at $60.31

Insmed Incorporated (NASDAQ:INSM) has been given an average rating of “Buy” by the sixteen analysts that are covering the firm, MarketBeat reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.38.

Several research firms have recently issued reports on INSM. Mizuho upped their price target on Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Stifel Nicolaus upped their price target on Insmed from $39.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. UBS Group upped their price target on Insmed from $46.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Guggenheim upped their price target on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was 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 of the company’s stock, valued at approximately $5,837,370. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was 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 directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sara Bonstein sold 11,088 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 of the company’s stock, valued at $2,974,618.92. The disclosure for this sale can be found here. Insiders sold a total of 295,842 shares of company stock valued at $13,762,062 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Insmed by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 197,643 shares of the biopharmaceutical company’s stock valued at $4,990,000 after purchasing an additional 4,081 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Insmed by 13.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 73,129 shares of the biopharmaceutical company’s stock valued at $1,847,000 after purchasing an additional 8,776 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Insmed during the 3rd quarter valued at $418,000. EAM Investors LLC acquired a new stake in Insmed during the 3rd quarter valued at $1,630,000. Finally, Northern Trust Corp increased its holdings in Insmed by 1.7% during the 3rd quarter. Northern Trust Corp now owns 1,346,432 shares of the biopharmaceutical company’s stock valued at $33,997,000 after purchasing an additional 21,875 shares in the last quarter.

Insmed Price Performance

Shares of INSM stock opened at $69.71 on Friday. Insmed has a fifty-two week low of $19.68 and a fifty-two week high of $70.65. The stock’s 50-day moving average is $39.98 and its two-hundred day moving average is $32.35. The firm has a market cap of $10.36 billion, a P/E ratio of -13.33 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same period in the previous year, the company earned ($1.17) earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts expect that Insmed will post -4.5 EPS for the current year.

Insmed Company Profile

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.