Insmed Incorporated (NASDAQ:INSM) Receives $83.67 Consensus Price Target from Analysts

Insmed Incorporated (NASDAQ:INSM) has earned an average rating of “Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Sixteen research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $83.67.

A number of research firms have commented on INSM. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America increased their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Insmed during the 2nd quarter worth approximately $256,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Insmed during the 2nd quarter worth approximately $330,000. Saxon Interests Inc. acquired a new stake in shares of Insmed in the 2nd quarter valued at approximately $441,000. Finally, Raymond James & Associates boosted its stake in shares of Insmed by 4.7% in the second quarter. Raymond James & Associates now owns 64,944 shares of the biopharmaceutical company’s stock valued at $4,351,000 after buying an additional 2,943 shares in the last quarter.

Insmed Stock Down 0.6 %

Shares of NASDAQ INSM opened at $71.63 on Friday. The company has a market capitalization of $12.81 billion, a P/E ratio of -12.91 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a 50 day simple moving average of $72.38 and a 200-day simple moving average of $71.45. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period last year, the firm earned ($1.10) EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts predict that Insmed will post -5.44 earnings per share for the current 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.