Brokerages Set Insmed Incorporated (NASDAQ:INSM) PT at $83.67

Insmed Incorporated (NASDAQ:INSM) has been given an average recommendation of “Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $83.67.

INSM has been the topic of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, Bank of America increased their target price on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th.

Institutional Trading of Insmed

Institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the third quarter worth about $30,000. GAMMA Investing LLC grew its position in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter. Finally, CWM LLC grew its position in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter.

Insmed Trading Up 0.6 %

Shares of NASDAQ:INSM opened at $73.85 on Friday. The company has a market cap of $13.21 billion, a P/E ratio of -13.31 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. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53. The stock’s fifty day moving average price is $72.44 and its 200-day moving average price is $71.56.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.10) earnings per share. Sell-side analysts expect 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.