Insmed (NASDAQ:INSM) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company reaffirmed their overweight rating on shares of Insmed (NASDAQ:INSM - Free Report) in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has a $55.00 price objective on the biopharmaceutical company's stock.

A number of other research firms have also recently weighed in on INSM. StockNews.com upgraded shares of Insmed from a sell rating to a hold rating in a research note on Wednesday, February 28th. Wolfe Research assumed coverage on shares of Insmed in a report on Thursday, February 15th. They issued an outperform rating and a $42.00 price target on the stock. UBS Group assumed coverage on shares of Insmed in a report on Tuesday, February 27th. They issued a buy rating and a $46.00 price target on the stock. Finally, Guggenheim lifted their price target on shares of Insmed from $52.00 to $54.00 and gave the company a buy rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $45.10.

Insmed Stock Performance

Shares of Insmed stock traded down $0.41 on Monday, hitting $26.72. 2,566,615 shares of the company's stock were exchanged, compared to its average volume of 1,663,676. Insmed has a 1 year low of $16.25 and a 1 year high of $32.00. The company has a 50-day simple moving average of $27.74 and a 200-day simple moving average of $26.93. The stock has a market capitalization of $3.97 billion, a PE ratio of -5.00 and a beta of 0.92.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.15). The company had revenue of $83.70 million for the quarter, compared to the consensus estimate of $82.15 million. During the same quarter last year, the business posted ($1.20) EPS. The business's quarterly revenue was up 41.1% compared to the same quarter last year. On average, analysts expect that Insmed will post -4.65 EPS for the current fiscal year.

Insider Activity at Insmed

In related news, insider John Drayton Wise sold 20,071 shares of the company's stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $29.19, for a total transaction of $585,872.49. Following the transaction, the insider now directly owns 103,984 shares in the company, valued at approximately $3,035,292.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Martina M.D. Flammer sold 4,667 shares of the company's stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $28.63, for a total value of $133,616.21. Following the completion of the sale, the insider now owns 106,898 shares of the company's stock, valued at approximately $3,060,489.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Drayton Wise sold 20,071 shares of the company's stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $29.19, for a total transaction of $585,872.49. Following the completion of the sale, the insider now directly owns 103,984 shares of the company's stock, valued at approximately $3,035,292.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,492 shares of company stock worth $2,909,521. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Insmed

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Insmed by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company's stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Insmed by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,763,771 shares of the biopharmaceutical company's stock valued at $333,571,000 after acquiring an additional 356,555 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Insmed by 3.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,374,675 shares of the biopharmaceutical company's stock valued at $167,327,000 after acquiring an additional 307,913 shares during the last quarter. Palo Alto Investors LP lifted its position in Insmed by 0.3% during the first quarter. Palo Alto Investors LP now owns 5,889,491 shares of the biopharmaceutical company's stock valued at $100,416,000 after acquiring an additional 18,200 shares during the last quarter. Finally, Bellevue Group AG lifted its position in Insmed by 0.9% during the first quarter. Bellevue Group AG now owns 3,551,776 shares of the biopharmaceutical company's stock valued at $83,467,000 after acquiring an additional 30,915 shares during the last quarter.

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.