Insmed’s (INSM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $70.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group increased their target price on shares of Insmed from $46.00 to $58.00 and gave the company a buy rating in a report on Wednesday, May 29th. Wells Fargo & Company raised their target price on shares of Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a research report on Wednesday, May 29th. 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. Mizuho lifted their price target on shares of Insmed from $36.00 to $82.00 and gave the company a buy rating in a research report on Friday, June 7th. Finally, StockNews.com upgraded shares of Insmed from a sell rating to a hold rating in a research note on Tuesday, May 14th. One research 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 presently has an average rating of Moderate Buy and an average price target of $66.31.

Insmed Price Performance

NASDAQ INSM opened at $62.00 on Tuesday. The company’s 50 day simple moving average is $45.63 and its two-hundred day simple moving average is $34.09. The stock has a market capitalization of $9.21 billion, a PE ratio of -11.85 and a beta of 1.16. Insmed has a 1 year low of $19.74 and a 1 year high of $70.65.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates 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. Insmed’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned ($1.17) EPS. On average, research analysts anticipate that Insmed will post -4.65 EPS for the current year.

Insider Activity at Insmed

In related news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 123,259 shares in the company, valued at $3,139,406.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Insmed news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the transaction, the insider now owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara Bonstein sold 11,088 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total transaction of $280,748.16. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $2,974,618.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently modified their holdings of INSM. Capital International Investors purchased a new position in shares of Insmed in the first quarter worth $43,973,000. Norges Bank bought a new position in Insmed during the fourth quarter valued at $45,029,000. Vanguard Group Inc. grew its holdings in shares of Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Insmed in the first quarter worth about $25,242,000. Finally, Assenagon Asset Management S.A. grew its holdings 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 during 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.