Shares of Insmed Incorporated (NASDAQ:INSM – Get Free Report) hit a new 52-week high during mid-day trading on Monday after Evercore ISI raised their price target on the stock from $42.00 to $75.00. Evercore ISI currently has an outperform rating on the stock. Insmed traded as high as $68.17 and last traded at $68.17, with a volume of 1247 shares. The stock had previously closed at $67.99.
A number of other equities research analysts have also issued reports on INSM. Mizuho upped their target price on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, June 7th. UBS Group increased their price objective on shares of Insmed from $46.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Morgan Stanley raised their target price on shares of Insmed from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Bank of America restated a “buy” rating and issued a $40.00 price target on shares of Insmed in a research report on Tuesday, May 28th. Finally, Barclays lifted their price objective on Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $62.38.
View Our Latest Report on INSM
Insider Activity
Hedge Funds Weigh In On Insmed
Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Insmed by 2.7% in the first 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 period. RTW Investments LP boosted its stake in shares of Insmed by 86.5% in the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock valued at $47,094,000 after buying an additional 865,108 shares during the period. Capital International Investors acquired a new position in shares of Insmed during the first quarter worth about $43,973,000. Norges Bank purchased a new stake in shares of Insmed during the fourth quarter worth approximately $45,029,000. Finally, Principal Financial Group Inc. raised its holdings in Insmed by 5.9% in the first quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock valued at $39,048,000 after acquiring an additional 79,717 shares in the last quarter.
Insmed Price Performance
The company has a market cap of $10.36 billion, a PE ratio of -13.33 and a beta of 1.11. The business’s 50 day moving average is $39.98 and its 200-day moving average is $32.35.
Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $77.76 million. Insmed’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm posted ($1.17) earnings per share. As a group, sell-side analysts predict that Insmed Incorporated will post -4.5 EPS for the current fiscal year.
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.
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