Insmed Incorporated (NASDAQ:INSM) Receives $74.50 Average Price Target from Analysts

Insmed Incorporated (NASDAQ:INSM) has been assigned an average rating of “Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $74.50.

Several research firms have recently commented on INSM. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Thursday, June 20th. Stifel Nicolaus upped their price objective on shares of Insmed from $39.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Mizuho upped their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, Truist Financial upped their price objective on shares of Insmed from $68.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 1st.

Insmed Price Performance

INSM stock opened at $75.97 on Tuesday. The company’s 50 day simple moving average is $56.38 and its 200-day simple moving average is $37.48. The firm has a market capitalization of $11.29 billion, a PE ratio of -14.53 and a beta of 1.16. Insmed has a 12 month low of $20.16 and a 12 month high of $78.87.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.16. The business had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) earnings per share. As a group, sell-side analysts anticipate that Insmed will post -4.71 earnings per share for the current year.

Insider Activity

In other news, CFO Sara Bonstein sold 11,088 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were 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 of the company’s stock, valued at approximately $2,974,618.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Sara Bonstein sold 11,088 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were 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 of the company’s stock, valued at approximately $2,974,618.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the firm’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 transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $5,837,370. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,842 shares of company stock valued at $13,762,062. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Capital International Investors acquired a new stake in Insmed during the 1st quarter valued at $43,973,000. Norges Bank acquired a new position in Insmed during the 4th quarter worth $45,029,000. Principal Financial Group Inc. grew its holdings in Insmed by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock worth $39,048,000 after acquiring an additional 79,717 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Insmed by 325.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after acquiring an additional 927,040 shares in the last quarter.

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.