Truist Financial Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price objective hoisted by analysts at Truist Financial from $126.00 to $139.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective would suggest a potential upside of 8.76% from the company’s previous close.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $90.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Morgan Stanley restated an “equal weight” rating and issued a $126.00 price target on shares of Insmed in a research note on Wednesday. Bank of America lifted their price target on shares of Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Citigroup upgraded shares of Insmed to a “buy” rating in a research note on Tuesday, June 10th. Finally, UBS Group restated a “buy” rating and issued a $133.00 price target (up previously from $124.00) on shares of Insmed in a research note on Friday, August 8th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.57.

Insmed Trading Up 0.0%

INSM opened at $127.80 on Thursday. The firm has a market capitalization of $27.01 billion, a P/E ratio of -22.38 and a beta of 0.95. The firm’s 50 day moving average is $103.62 and its 200-day moving average is $83.88. Insmed has a 52-week low of $60.40 and a 52-week high of $128.48. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). The firm had revenue of $107.42 million for the quarter, compared to analysts’ expectations of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.94) EPS. Analysts expect that Insmed will post -4.56 EPS for the current fiscal year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider owned 89,407 shares of the company’s stock, valued at $8,352,401.94. This represents a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 129,805 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the sale, the chief executive officer directly owned 233,924 shares of the company’s stock, valued at $23,483,630.36. The trade was a 35.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 525,716 shares of company stock valued at $49,665,671. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

Institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its holdings in Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 221 shares during the period. Elequin Capital LP acquired a new stake in Insmed in the fourth quarter worth about $28,000. ORG Partners LLC lifted its holdings in Insmed by 220.2% in the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 196 shares during the period. Hilltop National Bank acquired a new stake in Insmed in the second quarter worth about $28,000. Finally, FNY Investment Advisers LLC acquired a new stake in Insmed in the second quarter worth about $33,000.

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.