Insmed (NASDAQ:INSM) Price Target Increased to $85.00 by Analysts at Morgan Stanley

Insmed (NASDAQ:INSM) had its target price upped by Morgan Stanley from $60.00 to $85.00 in a research note released on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on INSM. Evercore ISI raised their price objective on Insmed from $42.00 to $75.00 and gave the company an outperform rating in a research report on Friday, June 21st. Wells Fargo & Company raised their price objective on Insmed from $55.00 to $77.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. The Goldman Sachs Group raised their price objective on Insmed from $74.00 to $102.00 and gave the company a buy rating in a research report on Wednesday, July 10th. UBS Group raised their price objective on Insmed from $46.00 to $58.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Finally, Guggenheim raised their price objective on Insmed from $70.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $74.50.

Insmed Stock Up 1.0 %

INSM stock opened at $77.47 on Friday. The business has a 50 day moving average price of $51.35 and a two-hundred day moving average price of $35.98. The company has a market cap of $11.51 billion, a price-to-earnings ratio of -14.81 and a beta of 1.16. Insmed has a twelve month low of $20.16 and a twelve month high of $78.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating 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. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) earnings per share. On average, equities research analysts anticipate that Insmed will post -4.71 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $5,874,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction on 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 owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The disclosure for this sale can be found here. In the last three months, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of institutional investors have recently modified their holdings of INSM. International Assets Investment Management LLC acquired a new position in shares of Insmed during the 4th quarter worth $25,000. EntryPoint Capital LLC acquired a new position in shares of Insmed during the 1st quarter worth $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Insmed during the 1st quarter worth $34,000. Headlands Technologies LLC acquired a new position in shares of Insmed during the 1st quarter worth $59,000. Finally, CWM LLC raised its holdings in shares of Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares in the last quarter.

Insmed Company Profile

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.