Insmed (NASDAQ:INSM) Price Target Raised to $108.00

Insmed (NASDAQ:INSM) had its price target boosted by Truist Financial from $105.00 to $108.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday. Guggenheim increased their price target on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $81.06 on Friday. The business’s 50 day simple moving average is $74.29 and its 200-day simple moving average is $73.61. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.50 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed has a 12 month low of $21.92 and a 12 month high of $84.91.

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

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the transaction, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 532,207 shares of company stock valued at $41,400,465. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares during the period. Darwin Global Management Ltd. increased its stake in shares of Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after acquiring an additional 2,463,261 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Insmed by 1.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock valued at $877,113,000 after acquiring an additional 123,429 shares during the period. Capital International Investors increased its stake in shares of Insmed by 9.1% during the fourth quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock valued at $491,357,000 after acquiring an additional 593,206 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Insmed by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock valued at $282,243,000 after acquiring an additional 273,759 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.