Insmed (NASDAQ:INSM) Price Target Increased to $75.00 by Analysts at Evercore ISI

Insmed (NASDAQ:INSMFree Report) had its price target boosted by Evercore ISI from $42.00 to $75.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus raised their price target on shares of Insmed from $39.00 to $67.00 and gave the stock a buy rating in a report on Friday, May 31st. Bank of America reaffirmed a buy rating and issued a $40.00 price objective on shares of Insmed in a research note on Tuesday, May 28th. UBS Group raised their price target on shares of Insmed from $46.00 to $58.00 and gave the company a buy rating in a research report on Wednesday, May 29th. StockNews.com raised shares of Insmed from a sell rating to a hold rating in a research report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Insmed from $55.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has an average rating of Moderate Buy and a consensus target price of $62.38.

Check Out Our Latest Analysis on INSM

Insmed Stock Up 0.6 %

INSM opened at $68.43 on Friday. The stock has a market cap of $10.17 billion, a PE ratio of -13.08 and a beta of 1.12. The company has a fifty day moving average of $39.11 and a 200-day moving average of $32.05. Insmed has a twelve month low of $19.68 and a twelve month high of $69.74.

Insmed (NASDAQ:INSMGet Free Report) last posted 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 analyst estimates of $77.76 million. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.17) earnings per share. Sell-side analysts anticipate that Insmed will post -4.5 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 21,195 shares of Insmed stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $55.00, for a total value of $1,165,725.00. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at $5,837,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 filing with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the business’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 transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The disclosure for this sale can be found here. Insiders sold 295,842 shares of company stock worth $13,762,062 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of INSM. Capital International Investors purchased a new position in Insmed during the first quarter valued at approximately $43,973,000. Norges Bank bought a new stake in Insmed during the fourth quarter valued at approximately $45,029,000. Vanguard Group Inc. lifted its position in Insmed by 7.7% during the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Insmed during the first quarter valued at approximately $25,242,000. Finally, Assenagon Asset Management S.A. lifted its position 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 valued at $32,870,000 after purchasing an additional 927,040 shares during the last quarter.

Insmed Company Profile

(Get Free Report)

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.

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