Insmed (NASDAQ:INSM) Price Target Raised to $107.00

Insmed (NASDAQ:INSM) had its price objective boosted by Wells Fargo & Company from $85.00 to $107.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on INSM. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Guggenheim raised their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley raised their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Price Performance

NASDAQ INSM opened at $81.06 on Wednesday. The company has a 50 day simple moving average of $74.29 and a 200-day simple moving average of $73.59. 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 firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11. Insmed has a 52-week low of $21.92 and a 52-week high of $84.91.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Equities research analysts predict that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the sale, the insider now owns 101,549 shares in the company, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,207 shares of company stock worth $41,400,465 over the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC grew its stake in shares of Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares during the last quarter. Capital CS Group LLC acquired a new stake in shares of Insmed in the fourth quarter worth $586,000. Orion Portfolio Solutions LLC grew its stake in shares of Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after acquiring an additional 9,170 shares during the last quarter. Ally Bridge Group NY LLC grew its stake in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after acquiring an additional 21,833 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Insmed in the third quarter worth $35,322,000.

Insmed Company Profile

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.