Insmed (NASDAQ:INSM) Price Target Raised to $193.00 at TD Cowen

Insmed (NASDAQ:INSM) had its price target raised by TD Cowen from $154.00 to $193.00 in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of Insmed from $126.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Royal Bank Of Canada boosted their target price on shares of Insmed from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $111.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Citigroup upgraded shares of Insmed to a “buy” rating in a report on Tuesday, June 10th. Finally, William Blair started coverage on shares of Insmed in a report on Wednesday, August 20th. They issued an “outperform” rating on the stock. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.69.

Insmed Trading Up 3.7%

Shares of Insmed stock opened at $152.80 on Thursday. The company’s fifty day simple moving average is $131.39 and its 200-day simple moving average is $98.41. The stock has a market capitalization of $32.30 billion, a PE ratio of -26.76 and a beta of 1.03. Insmed has a 1-year low of $60.40 and a 1-year high of $152.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The firm had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.94) earnings per share. Insmed has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 76,520 shares of Insmed stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $145.45, for a total transaction of $11,129,834.00. Following the completion of the transaction, the insider directly owned 36,461 shares of the company’s stock, valued at approximately $5,303,252.45. The trade was a 67.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of Insmed stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the transaction, the insider directly owned 54,902 shares of the company’s stock, valued at approximately $7,899,848.78. This represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 277,332 shares of company stock worth $33,842,327 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky purchased a new stake in Insmed in the 1st quarter valued at about $975,000. OneDigital Investment Advisors LLC boosted its position in Insmed by 47.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock valued at $399,000 after buying an additional 1,673 shares during the period. Caxton Associates LLP purchased a new stake in Insmed in the 1st quarter valued at about $441,000. Sowell Financial Services LLC purchased a new stake in Insmed in the 1st quarter valued at about $255,000. Finally, Assenagon Asset Management S.A. boosted its position in Insmed by 84.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 73,404 shares of the biopharmaceutical company’s stock valued at $7,387,000 after buying an additional 33,626 shares during the period.

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.