Insmed (NASDAQ:INSM – Get Free Report) had its price target hoisted by Evercore ISI from $32.00 to $42.00 in a research note issued on Thursday, MarketBeat reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Evercore ISI’s price target suggests a potential upside of 59.94% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $52.00 price objective on shares of Insmed in a research note on Wednesday. Bank of America lifted their price objective on Insmed from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim lifted their price objective on Insmed from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Insmed in a report on Friday, August 4th. Finally, StockNews.com began coverage on Insmed in a report on Thursday, August 17th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus target price of $43.71.
View Our Latest Report on Insmed
Insmed Stock Performance
Insmed (NASDAQ:INSM – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.68). The company had revenue of $77.23 million during the quarter, compared to analysts’ expectations of $70.23 million. Insmed had a negative net margin of 258.22% and a negative return on equity of 3,789.32%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.80) EPS. As a group, sell-side analysts forecast that Insmed will post -5.08 earnings per share for the current year.
Insider Buying and Selling at Insmed
In other Insmed news, insider Martina M.D. Flammer sold 8,868 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $19.27, for a total value of $170,886.36. Following the completion of the sale, the insider now owns 106,038 shares in the company, valued at $2,043,352.26. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Roger Adsett sold 8,981 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $19.32, for a total transaction of $173,512.92. Following the completion of the sale, the chief operating officer now owns 151,352 shares in the company, valued at $2,924,120.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 8,868 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $19.27, for a total value of $170,886.36. Following the sale, the insider now owns 106,038 shares of the company’s stock, valued at approximately $2,043,352.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,589 shares of company stock worth $359,332. 4.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in Insmed during the second quarter worth $447,000. Legato Capital Management LLC grew its holdings in Insmed by 39.5% in the second quarter. Legato Capital Management LLC now owns 51,569 shares of the biopharmaceutical company’s stock valued at $1,088,000 after purchasing an additional 14,589 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Insmed by 0.5% in the second quarter. Nuveen Asset Management LLC now owns 355,842 shares of the biopharmaceutical company’s stock valued at $7,508,000 after purchasing an additional 1,931 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Insmed by 2.0% in the second quarter. Alliancebernstein L.P. now owns 2,524,643 shares of the biopharmaceutical company’s stock valued at $53,270,000 after purchasing an additional 50,255 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Insmed during the second quarter valued at $205,000.
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.
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