Insmed (NASDAQ:INSM) PT Lowered to $85.00

Insmed (NASDAQ:INSM) had its price target lowered by Truist Financial from $88.00 to $85.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on INSM. Wells Fargo & Company upped their price target on Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. UBS Group upped their target price on shares of Insmed from $78.00 to $84.00 and gave the company a buy rating in a research note on Friday, August 9th. The Goldman Sachs Group lifted their price target on shares of Insmed from $74.00 to $102.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. TD Cowen upped their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a buy rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $55.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Insmed currently has a consensus rating of Moderate Buy and a consensus target price of $79.19.

Insmed Trading Down 0.7 %

NASDAQ:INSM opened at $73.65 on Monday. The firm’s fifty day simple moving average is $70.25 and its 200 day simple moving average is $43.45. Insmed has a twelve month low of $21.21 and a twelve month high of $78.87. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of -14.18 and a beta of 1.16.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) 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. During the same quarter in the previous year, the company posted ($1.78) EPS. Insmed’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Insmed will post -4.71 earnings per share for the current year.

Insider Activity

In related news, insider John Drayton Wise sold 7,852 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $5,874,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Drayton Wise sold 7,852 shares of the stock in a transaction that occurred 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 sale, the insider now owns 121,657 shares in the company, valued at $6,057,302.03. 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 currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. First Horizon Advisors Inc. increased its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Insmed during the fourth quarter valued at $25,000. EntryPoint Capital LLC bought a new stake in shares of Insmed during the first quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new stake in Insmed in the first quarter worth about $34,000. Finally, CWM LLC grew its position in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares in 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.