Insmed (NASDAQ:INSM) Given New $96.00 Price Target at Bank of America

Insmed (NASDAQ:INSM) had its price objective raised by analysts at Bank of America from $92.00 to $96.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target would indicate a potential upside of 20.12% from the stock’s current price.

Several other research analysts also recently weighed in on INSM. Wells Fargo & Company lifted their target price on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Guggenheim reissued a “buy” rating and issued a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Insmed in a report on Wednesday. Morgan Stanley raised their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Trading Up 1.5 %

Shares of INSM stock opened at $79.92 on Thursday. The business’s 50 day moving average is $77.43 and its two-hundred day moving average is $73.80. Insmed has a twelve month low of $21.92 and a twelve month high of $84.91. The company has a market capitalization of $14.47 billion, a P/E ratio of -14.30 and a beta of 1.28. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. Equities analysts forecast that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the transaction, the insider now directly owns 102,766 shares of the company’s stock, valued at $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Insmed

Institutional investors have recently made changes to their positions in the stock. Atria Investments Inc increased its stake in Insmed by 61.7% in the third quarter. Atria Investments Inc now owns 4,985 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 1,902 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Insmed in the third quarter valued at $376,000. OneDigital Investment Advisors LLC acquired a new position in Insmed in the third quarter valued at $232,000. CIBC Asset Management Inc increased its stake in Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new position in Insmed in the third quarter valued at $1,525,000.

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.