Insmed (NASDAQ:INSM) Given New $97.00 Price Target at Stifel Nicolaus

Insmed (NASDAQ:INSM) had its price target hoisted by equities research analysts at Stifel Nicolaus from $88.00 to $97.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 22.80% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, Guggenheim boosted their target price on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Insmed Stock Up 1.1 %

Shares of NASDAQ INSM traded up $0.87 during mid-day trading on Tuesday, reaching $78.99. 232,328 shares of the company traded hands, compared to its average volume of 1,880,366. The company’s fifty day moving average is $72.88 and its two-hundred day moving average is $73.09. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $82.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a market cap of $14.13 billion, a PE ratio of -14.23 and a beta of 1.11.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the sale, the chief executive officer now directly owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. The trade was a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sara Bonstein sold 3,470 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the sale, the chief financial officer now directly owns 114,736 shares of the company’s stock, valued at approximately $7,538,155.20. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 401,030 shares of company stock worth $30,993,629. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Insmed in the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the period. Spire Wealth Management bought a new position in Insmed in the fourth quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 627 shares during the period.

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.