Insmed Incorporated (NASDAQ:INSM) shares traded 4.66% higher at $21.35 on Wall Street last session.
In accordance with the data, 13 analysts cover Insmed Incorporated (NASDAQ:INSM). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $52.00 and a low of $30.00, we find $41.00. Given the previous closing price of $20.40, this indicates a potential upside of 100.98 percent. INSM stock price is now 7.00% away from the 50-day moving average and 10.75% away from the 200-day moving average. The market capitalization of the company currently stands at $2.78B.
It has been rated a hold by 0 analysts and a buy by 12. Brokers who have rated the stock have averaged $40.38 as their price target over the next twelve months.
With the price target of $50, Guggenheim recently initiated with Buy rating for Insmed Incorporated (NASDAQ: INSM).
In other news, Smith Michael Alexander, General Counsel, Senior VP sold 740 shares of the company’s stock on Jul 11. The stock was sold for $14,933 at an average price of $20.18. Upon completion of the transaction, the General Counsel, Senior VP now directly owns 77,142 shares in the company, valued at $1.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, Chief Operating Officer Adsett Roger sold 8,981 shares of the business’s stock. A total of $173,513 was realized by selling the stock at an average price of $19.32. This leaves the insider owning 151,352 shares of the company worth $3.23 million. Insiders disposed of 344,840 shares of company stock worth roughly $7.36 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in INSM stock. A new stake in Insmed Incorporated shares was purchased by IKARIAN CAPITAL, LLC during the first quarter worth $10,355,000. TWINBEECH CAPITAL LP invested $5,309,000 in shares of INSM during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Insmed Incorporated valued at approximately $5,295,000. THRIVENT FINANCIAL FOR LUTHERANS acquired a new stake in INSM for approximately $3,483,000. BOOTHBAY FUND MANAGEMENT, LLC purchased a new stake in INSM valued at around $2,078,000 in the second quarter. In total, there are 320 active investors with 96.90% ownership of the company’s stock.
Insmed Incorporated (NASDAQ: INSM) opened at $20.50 on Friday. During the past 12 months, Insmed Incorporated has had a low of $16.04 and a high of $28.94. The fifty day moving average price for INSM is $20.01 and a two-hundred day moving average price translates $19.28 for the stock.
The latest earnings results from Insmed Incorporated (NASDAQ: INSM) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$1.17, missing analysts’ expectations of -$1.11 by -0.06. This compares to -$0.80 EPS in the same period last year. The company reported revenue of $65.21 million for the quarter, compared to $53.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.8 percent. For the current quarter, analysts expect INSM to generate $70.22M in revenue.
Insmed Incorporated(INSM) Company Profile
Insmed Incorporated, a biopharmaceutical company, develops and commercializes therapies for patients with serious and rare diseases. The company offers ARIKAYCE for the treatment of Mycobacterium avium complex lung disease as part of a combination antibacterial drug regimen for adult patients. It is also developing Brensocatib, an oral reversible inhibitor of dipeptidyl peptidase 1 for the treatment of patients with bronchiectasis, cystic fibrosis, and other neutrophil-mediated diseases; and Treprostinil Palmitil Inhalation Powder, an inhaled formulation of a treprostinil prodrug treprostinil palmitil for the treatment of pulmonary hypertension associated with interstitial lung disease and pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, New Jersey.
