Insmed (INSM) – Analysts’ Recent Ratings Changes

Insmed (NASDAQ: INSM) has recently received a number of price target changes and ratings updates:

• 5/16/2024 – Insmed had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $48.00 price target on the stock.
• 5/15/2024 – Insmed had its price target raised by analysts at The Goldman Sachs Group, Inc. from $40.00 to $49.00. They now have a “buy” rating on the stock.
• 5/14/2024 – Insmed was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/14/2024 – Insmed had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $52.00 price target on the stock.
• 5/13/2024 – Insmed had its price target raised by analysts at Mizuho from $35.00 to $36.00. They now have a “buy” rating on the stock.
• 5/10/2024 – Insmed had its price target raised by analysts at Morgan Stanley from $40.00 to $43.00. They now have an “overweight” rating on the stock.
• 5/6/2024 – Insmed was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/23/2024 – Insmed is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $48.00 price target on the stock.
• 4/11/2024 – Insmed had its price target raised by analysts at Barclays PLC from $37.00 to $40.00. They now have an “overweight” rating on the stock.
• 4/1/2024 – Insmed had its “overweight” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $55.00 price target on the stock.

Insmed Stock Performance

Shares of INSM traded down $0.44 during trading hours on Thursday, reaching $23.72. The stock had a trading volume of 99,703 shares, compared to its average volume of 1,739,713. The stock has a market capitalization of $3.52 billion, a PE ratio of -4.54 and a beta of 0.93. Insmed Incorporated has a 12 month low of $18.31 and a 12 month high of $32.00. The company’s 50-day moving average is $26.19 and its two-hundred day moving average is $27.12.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating 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. During the same quarter in the previous year, the company earned ($1.17) earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts anticipate that Insmed Incorporated will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Insmed news, insider John Drayton Wise sold 5,088 shares of Insmed 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 transaction, the insider now owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at approximately $9,802,870. The disclosure for this sale can be found here. Insiders sold a total of 46,231 shares of company stock worth $1,177,186 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Insmed by 3,984.1% in the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock worth $1,344,000 after purchasing an additional 48,327 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Insmed in the first quarter worth $267,000. Hood River Capital Management LLC increased its holdings in shares of Insmed by 6.3% in the first quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock worth $26,113,000 after purchasing an additional 56,682 shares during the period. Capital International Investors bought a new position in shares of Insmed in the first quarter worth $43,973,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Insmed in the first quarter worth $442,000.

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.