Stifel Nicolaus Boosts Insmed (NASDAQ:INSM) Price Target to $67.00

Insmed (NASDAQ:INSMFree Report) had its target price boosted by Stifel Nicolaus from $39.00 to $67.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the topic of several other reports. UBS Group upped 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. The Goldman Sachs Group increased their price target on shares of Insmed from $49.00 to $74.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Truist Financial increased their price target on shares of Insmed from $48.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, May 29th. TD Cowen increased their price target 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. Finally, Wells Fargo & Company increased their price target 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. 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, the stock currently has a consensus rating of Moderate Buy and an average price target of $56.38.

View Our Latest Research Report on INSM

Insmed Stock Down 3.4 %

NASDAQ:INSM opened at $55.05 on Friday. Insmed has a 12-month low of $18.31 and a 12-month high of $58.82. The firm has a market capitalization of $8.18 billion, a PE ratio of -10.53 and a beta of 0.93. The firm has a 50-day moving average price of $28.06 and a 200 day moving average price of $27.91.

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $77.76 million. Insmed’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.17) earnings per share. On average, research analysts expect that Insmed will post -4.5 EPS for the current year.

Insider Buying and Selling

In related news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Sara Bonstein sold 220,564 shares of Insmed stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold a total of 295,842 shares of company stock worth $13,762,062 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors bought a new stake in shares of Insmed during the 1st quarter worth about $43,973,000. Norges Bank bought a new stake in shares of Insmed during the 4th quarter worth about $45,029,000. Vanguard Group Inc. boosted its holdings in shares of Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after buying an additional 1,024,956 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Insmed during the 1st quarter worth about $25,242,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 buying an additional 927,040 shares during the period.

Insmed Company Profile

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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.

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