Stifel Nicolaus Raises Insmed (NASDAQ:INSM) Price Target to $88.00

Insmed (NASDAQ:INSM) had its price target lifted by Stifel Nicolaus from $74.00 to $88.00 in a report published on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. Mizuho raised 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. Truist Financial raised their target price on Insmed from $68.00 to $88.00 and gave the company a buy rating in a research report on Monday, July 1st. The Goldman Sachs Group upped their price target on Insmed from $74.00 to $102.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Morgan Stanley raised their price objective on Insmed from $60.00 to $85.00 and gave the company an overweight rating in a report on Friday, July 12th. Finally, Bank of America reaffirmed a buy rating and set a $83.00 target price on shares of Insmed in a research note on Friday, July 5th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Insmed presently has an average rating of Moderate Buy and an average price target of $79.19.

Insmed Stock Up 0.1 %

Shares of INSM stock opened at $74.09 on Friday. Insmed has a 52-week low of $21.21 and a 52-week high of $78.87. The stock has a market cap of $11.01 billion, a PE ratio of -14.17 and a beta of 1.16. The business has a 50-day simple moving average of $68.82 and a 200-day simple moving average of $42.35.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.78) earnings per share. Sell-side analysts anticipate that Insmed will post -4.71 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Drayton Wise sold 7,852 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $49.79, for a total transaction of $390,951.08. Following the transaction, the insider now directly owns 121,657 shares in the company, valued at $6,057,302.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Drayton Wise sold 7,852 shares of Insmed stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total value of $390,951.08. Following the transaction, the insider now owns 121,657 shares in the company, valued at approximately $6,057,302.03. The disclosure for this sale can be found here. Insiders sold 249,611 shares of company stock worth $12,584,876 over the last three months. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Insmed by 2.7% in the 1st 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 last quarter. Principal Financial Group Inc. raised its position in shares of Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after buying an additional 218,480 shares during the period. Capital International Investors acquired a new position in Insmed in the first quarter valued at approximately $43,973,000. Norges Bank purchased a new position in Insmed in the fourth quarter worth approximately $45,029,000. Finally, Assenagon Asset Management S.A. increased its stake in Insmed by 325.8% during 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 acquiring 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.