Insmed (NASDAQ:INSM) Stock Price Up 7.5%

Insmed Incorporated (NASDAQ:INSM) shares rose 7.5% during mid-day trading on Friday . The company traded as high as $66.81 and last traded at $66.66. Approximately 512,956 shares traded hands during trading, a decline of 80% from the average daily volume of 2,548,586 shares. The stock had previously closed at $62.00.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on shares of Insmed from $45.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. UBS Group boosted their target price on shares of Insmed from $46.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. 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 research note 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 research note on Wednesday, May 29th. Finally, StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average price target of $66.31.

Insmed Price Performance

The firm has a market capitalization of $10.01 billion, a P/E ratio of -12.81 and a beta of 1.16. The stock’s fifty day simple moving average is $45.63 and its 200 day simple moving average is $34.09.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed Incorporated will post -4.65 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 owns 117,481 shares in the company, valued at $5,874,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the sale, the insider now owns 123,259 shares in the company, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,842 shares of company stock worth $13,762,062. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Insmed in the fourth quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new stake in Insmed in the 1st quarter worth approximately $33,000. Fidelis Capital Partners LLC purchased a new stake in Insmed in the 1st quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in Insmed in the 1st quarter worth approximately $59,000. Finally, Quarry LP purchased a new stake in Insmed in the 4th quarter worth approximately $116,000.

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.