Insmed (NASDAQ:INSM) Price Target Raised to $95.00

Insmed (NASDAQ:INSM) had its price objective boosted by Guggenheim from $70.00 to $95.00 in a report issued on Tuesday, Benzinga reports. Guggenheim currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Barclays raised their price objective on Insmed from $40.00 to $63.00 and gave the stock an overweight rating in a research note on Wednesday, May 29th. Bank of America reaffirmed a buy rating and set a $83.00 price objective on shares of Insmed in a research note on Friday, July 5th. Mizuho raised their price objective on Insmed from $36.00 to $82.00 and gave the stock a buy rating in a research note on Friday, June 7th. The Goldman Sachs Group raised their price objective on Insmed from $49.00 to $74.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on Insmed from $55.00 to $72.00 and gave the company an overweight rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $71.88.

Insmed Stock Performance

NASDAQ:INSM opened at $77.03 on Tuesday. Insmed has a 12-month low of $20.01 and a 12-month high of $77.26. The stock’s fifty day simple moving average is $50.32 and its 200-day simple moving average is $35.59.

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

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 220,564 shares of Insmed stock in a transaction dated 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 of the company’s stock, valued at $5,874,050. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Sara Bonstein sold 220,564 shares of Insmed stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the completion of the transaction, the chief financial officer now owns 117,481 shares in the company, valued at $5,874,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,842 shares of company stock valued at $13,762,062. 4.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. International Assets Investment Management LLC bought a new position in Insmed during the fourth quarter worth about $25,000. EntryPoint Capital LLC bought a new stake in shares of Insmed during the first quarter worth approximately $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Insmed during the first quarter worth approximately $34,000. Headlands Technologies LLC bought a new stake in shares of Insmed during the first quarter worth approximately $59,000. Finally, CWM LLC boosted its holdings in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares during the period.

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.