In a report released yesterday, Leon Wang from Barclays maintained a Buy rating on Insmed (INSM – Research Report), with a price target of $37.00. The company’s shares closed yesterday at $27.15.
According to TipRanks, Wang is ranked #4312 out of 8689 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Insmed with a $42.71 average price target, representing a 57.31% upside. In a report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $45.00 price target.
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Based on Insmed’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $79.07 million and a GAAP net loss of $158.93 million. In comparison, last year the company earned a revenue of $67.73 million and had a GAAP net loss of $131.15 million
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INSM in relation to earlier this year.
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Insmed (INSM) Company Description:
Insmed, Inc. is a biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Its 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. The MAC lung disease is a rare and often chronic infection that can cause irreversible lung damage and can be fatal. Its earlier-stage clinical pipeline includes INS1007, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis and other inflammatory diseases, and INS1009, an inhaled formulation of a treprostinil prodrug that may offer a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, NJ.
Read More on INSM:
- Insmed Strikes $500M Deal with Leerink for Growth and R&D
- Insmed Reports Fourth-Quarter and Full-Year 2023 Financial Results and Provides Business Update
- INSM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Insmed initiated with an Outperform at Wolfe Research
- 3 Best Stocks to Buy Now, 1/9/2024, According to Top Analysts
