Insmed (NASDAQ:INSM) Given New $88.00 Price Target at Truist Financial

Insmed (NASDAQ:INSM) had its price target lifted by Truist Financial from $68.00 to $88.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on INSM. Wells Fargo & Company raised their price target on Insmed from $55.00 to $77.00 and gave the company an overweight rating in a report on Wednesday, May 29th. Stifel Nicolaus raised their target price 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. HC Wainwright boosted their price target on shares of Insmed from $52.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. The Goldman Sachs Group increased their price objective on shares of Insmed from $49.00 to $74.00 and gave the company a buy rating in a report on Wednesday, May 29th. Finally, Barclays lifted their target price on shares of Insmed from $40.00 to $63.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Insmed currently has an average rating of Moderate Buy and an average price target of $66.31.

Insmed Trading Down 3.9 %

Shares of INSM stock opened at $62.00 on Monday. Insmed has a 12 month low of $19.74 and a 12 month high of $70.65. The company has a market capitalization of $9.21 billion, a P/E ratio of -11.85 and a beta of 1.16. The stock has a 50 day moving average of $45.63 and a two-hundred day moving average of $34.09.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. During the same quarter in the prior year, the company posted ($1.17) EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts predict that Insmed will post -4.65 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,837,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Insmed news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total value of $129,591.36. Following the sale, the insider now owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The transaction 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 that occurred 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 sale, the insider now directly owns 106,134 shares in the company, valued at $5,837,370. The disclosure for this sale can be found here. Insiders sold a total of 295,842 shares of company stock valued at $13,762,062 over the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in Insmed during the 4th quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed during the first quarter valued at about $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed during the first quarter valued at about $34,000. Headlands Technologies LLC bought a new position in Insmed in the first quarter worth about $59,000. Finally, Quarry LP purchased a new stake in Insmed in the fourth quarter worth about $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.