Insmed (NASDAQ:INSM) Price Target Raised to $142.00

Insmed (NASDAQ:INSM) had its target price hoisted by The Goldman Sachs Group from $114.00 to $142.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Insmed from $129.00 to $148.00 and gave the company a “buy” rating 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. Leerink Partners lifted their price target on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Citigroup upgraded shares of Insmed to a “buy” rating in a research note on Tuesday, June 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $120.00 price target (up previously from $108.00) 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 has a consensus rating of “Moderate Buy” and a consensus target price of $129.57.

Insmed Trading Up 0.0%

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

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million during the quarter, compared to analysts’ expectations of $104.06 million. During the same quarter in the previous year, the business posted ($1.94) EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts predict that Insmed will post -4.56 EPS for the current year.

Insider Activity

In other news, CEO William Lewis sold 129,805 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer owned 233,924 shares of the company’s stock, valued at approximately $23,483,630.36. The trade was a 35.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the transaction, the insider directly owned 89,407 shares of the company’s stock, valued at approximately $8,352,401.94. This trade represents a 52.59% 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Insmed by 0.3% during the first quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company’s stock valued at $1,393,675,000 after purchasing an additional 49,149 shares in the last quarter. Darwin Global Management Ltd. raised 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 purchasing an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Insmed by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company’s stock valued at $985,938,000 after purchasing an additional 219,131 shares in the last quarter. Capital International Investors raised 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 purchasing an additional 593,206 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Insmed by 109.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock valued at $262,967,000 after purchasing an additional 1,799,382 shares in the last quarter.

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.