Analysts Set Insmed Incorporated (NASDAQ:INSM) Target Price at $82.73

Shares of Insmed Incorporated (NASDAQ:INSM) have been assigned an average rating of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $82.73.

INSM has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. Stifel Nicolaus boosted their price target on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial raised their price objective on Insmed from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Finally, Guggenheim raised their price target on shares of Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th.

Insmed Price Performance

Shares of NASDAQ INSM opened at $70.30 on Thursday. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The business has a 50 day moving average price of $73.61 and a two-hundred day moving average price of $60.87. The firm has a market cap of $10.45 billion, a PE ratio of -13.44 and a beta of 1.11.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.78) earnings per share. Sell-side analysts expect that Insmed will post -5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. Clearbridge Investments LLC acquired a new position in shares of Insmed in the 1st quarter worth approximately $25,242,000. Kennedy Capital Management LLC bought a new position in shares of Insmed in the first quarter valued at $267,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Insmed during the 1st quarter worth $4,515,000. Russell Investments Group Ltd. boosted its stake in shares of Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 21,963 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new position in shares of Insmed in the 1st quarter worth $678,000.

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.