Insmed (NASDAQ:INSM) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Insmed (NASDAQ:INSM) in a research report sent to investors on Thursday, Benzinga reports.

INSM has been the subject of a number of other reports. Stifel Nicolaus raised their price target on shares of Insmed from $39.00 to $67.00 and gave the stock a buy rating in a report on Friday, May 31st. Bank of America reaffirmed a buy rating and set a $40.00 price target on shares of Insmed in a research note on Tuesday, May 28th. TD Cowen raised their price objective on Insmed from $45.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Mizuho upped their target price on Insmed from $36.00 to $82.00 and gave the stock a buy rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company lifted their price target on shares of Insmed from $55.00 to $77.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Insmed has an average rating of Moderate Buy and a consensus target price of $62.38.

Insmed Trading Up 5.1 %

Shares of Insmed stock opened at $67.99 on Thursday. The business has a 50-day moving average price of $38.28 and a two-hundred day moving average price of $31.76. Insmed has a 1-year low of $19.68 and a 1-year high of $68.08. The company has a market cap of $10.10 billion, a P/E ratio of -13.00 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. Equities research analysts forecast that Insmed will post -4.5 EPS for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was 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 $3,139,406.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 295,842 shares of company stock valued at $13,762,062. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in Insmed in the fourth quarter worth $25,000. EntryPoint Capital LLC bought a new stake in Insmed in the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC purchased a new stake in Insmed during the first quarter valued at about $34,000. Headlands Technologies LLC bought a new position in Insmed during the first quarter worth about $59,000. Finally, Quarry LP purchased a new position in shares of Insmed in the fourth quarter worth about $116,000.

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.