Insmed (NASDAQ:INSM) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Monday, Benzinga reports. HC Wainwright currently has a $90.00 price target on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Insmed’s Q3 2024 earnings at ($1.42) EPS, Q4 2024 earnings at ($1.42) EPS, FY2024 earnings at ($4.86) EPS, FY2025 earnings at ($3.95) EPS, FY2026 earnings at ($1.91) EPS, FY2027 earnings at $0.16 EPS and FY2028 earnings at $1.97 EPS.

Several other research analysts also recently commented on INSM. Morgan Stanley lifted their target price on shares of Insmed from $60.00 to $85.00 and gave the stock an overweight rating in a research note on Friday, July 12th. Cantor Fitzgerald reissued an overweight rating on shares of Insmed in a research note on Thursday, June 20th. Guggenheim upped their price target on Insmed from $70.00 to $95.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Mizuho raised their target price on shares of Insmed from $36.00 to $82.00 and gave the company a buy rating in a research note on Friday, June 7th. Finally, The Goldman Sachs Group lifted their price objective on Insmed from $74.00 to $102.00 and gave the company a buy rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $79.19.

Insmed Stock Down 2.0 %

NASDAQ INSM opened at $74.87 on Monday. The company has a 50-day simple moving average of $69.57 and a two-hundred day simple moving average of $43.02. Insmed has a 12-month low of $21.21 and a 12-month high of $78.87. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of -14.32 and a beta of 1.16.

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

Insider Activity at Insmed

In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $5,874,050. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,874,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $55.00, for a total value of $1,165,725.00. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,611 shares of company stock worth $12,584,876. 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 the stock. International Assets Investment Management LLC purchased a new stake in shares of Insmed during the 4th quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Insmed by 9.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,904 shares of the biopharmaceutical company’s stock valued at $2,383,000 after acquiring an additional 6,383 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Insmed by 7.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,772 shares of the biopharmaceutical company’s stock worth $954,000 after acquiring an additional 2,095 shares in the last quarter. Xponance Inc. bought a new stake in Insmed during the fourth quarter worth approximately $259,000. Finally, Knights of Columbus Asset Advisors LLC raised its position in Insmed by 101.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 228,783 shares of the biopharmaceutical company’s stock valued at $7,090,000 after purchasing an additional 114,987 shares during the period.

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.