Truist Financial Increases Insmed (NASDAQ:INSM) Price Target to $108.00

Insmed (NASDAQ:INSM) had its price objective hoisted by Truist Financial from $105.00 to $108.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on INSM. Wells Fargo & Company boosted their price objective on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley boosted 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. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. Finally, Guggenheim boosted their price objective on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Stock Down 3.0 %

Insmed stock opened at $81.06 on Friday. The company has a market capitalization of $14.50 billion, a P/E ratio of -14.50 and a beta of 1.11. The firm’s fifty day simple moving average is $74.29 and its 200-day simple moving average is $73.61. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed has a 1-year low of $21.92 and a 1-year high of $84.91.

Insmed (NASDAQ:INSM) last announced its 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). The firm had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Sell-side analysts forecast that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the sale, the insider now owns 101,549 shares in the company, valued at $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock valued at $41,400,465 over the last three months. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its stake in shares of Insmed by 12.5% during the 4th quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 1,213 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Insmed during the 4th quarter valued at approximately $259,000. Fourth Dimension Wealth LLC bought a new position in shares of Insmed during the 4th quarter valued at approximately $278,000. Vise Technologies Inc. grew its stake in shares of Insmed by 6.3% during the 4th quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock valued at $389,000 after acquiring an additional 336 shares during the period. Finally, Castleark Management LLC grew its stake in shares of Insmed by 21.9% during the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock valued at $3,644,000 after acquiring an additional 9,480 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.