Insmed (NASDAQ:INSM) Receives Buy Rating from Bank of America

Bank of America restated their buy rating on shares of Insmed (NASDAQ:INSM) in a research note released on Friday morning, Benzinga reports. They currently have a $83.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on INSM. Wells Fargo & Company boosted their target price 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 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, May 29th. Cantor Fitzgerald restated an overweight rating on shares of Insmed in a report on Thursday, June 20th. Morgan Stanley boosted their target price on shares of Insmed from $40.00 to $43.00 and gave the company an overweight rating in a report on Friday, May 10th. Finally, UBS Group boosted their price objective on shares of Insmed from $46.00 to $58.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $67.56.

Insmed Price Performance

Shares of NASDAQ INSM opened at $70.05 on Friday. The company has a market cap of $10.41 billion, a PE ratio of -13.39 and a beta of 1.16. Insmed has a 12 month low of $19.74 and a 12 month high of $70.75. The company has a 50-day simple moving average of $47.43 and a 200-day simple moving average of $34.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $77.76 million. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. Insmed’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Insmed will post -4.77 EPS for the current year.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 21,195 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $5,837,370. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $5,874,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the completion of the sale, the insider now directly owns 106,134 shares in the company, valued at $5,837,370. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,842 shares of company stock valued at $13,762,062. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its holdings in Insmed by 1.6% in the first 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 acquiring an additional 610 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in Insmed by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after acquiring an additional 622 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Insmed by 2.5% in the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 700 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Insmed in the fourth quarter valued at $25,000. Finally, Diversified Trust Co raised its holdings in Insmed by 4.2% in the third quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 792 shares in the last quarter.

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.