Insmed (NASDAQ:INSM) Price Target Raised to $102.00

Insmed (NASDAQ:INSM) had its price target increased by The Goldman Sachs Group from $74.00 to $102.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 42.62% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Guggenheim raised their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased 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. Barclays boosted their target price on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company raised their price objective on Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.88.

Insmed Trading Up 1.8 %

Shares of INSM traded up $1.25 during midday trading on Wednesday, reaching $71.52. The stock had a trading volume of 785,229 shares, compared to its average volume of 2,568,423. The firm has a 50 day simple moving average of $48.35 and a 200-day simple moving average of $35.03. The firm has a market cap of $10.63 billion, a PE ratio of -13.64 and a beta of 1.16. Insmed has a one year low of $19.97 and a one year high of $72.22.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $77.76 million. During the same period in the previous year, the firm posted ($1.17) earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts forecast that Insmed will post -4.71 EPS for the current fiscal year.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 11,088 shares of Insmed stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total transaction of $280,748.16. Following the sale, the chief financial officer now directly owns 117,481 shares in the company, valued at $2,974,618.92. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $25.32, for a total transaction of $280,748.16. Following the completion of the sale, the chief financial officer now directly 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 available at the SEC website. Also, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at $9,802,870. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 in the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Insmed by 2.7% during the first 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 during the period. Capital International Investors bought a new stake in Insmed in the 1st quarter valued at about $43,973,000. Norges Bank bought a new stake in Insmed in the 4th quarter valued at about $45,029,000. Principal Financial Group Inc. boosted its position in Insmed by 5.9% during the first quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock worth $39,048,000 after purchasing an additional 79,717 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Insmed by 325.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after purchasing 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.