Insmed (NASDAQ:INSM) Price Target Raised to $96.00

Insmed (NASDAQ:INSM) had its target price raised by Bank of America from $92.00 to $96.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price objective on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. UBS Group boosted their target price on Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Stock Up 1.5 %

Shares of NASDAQ:INSM opened at $79.92 on Thursday. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of -14.30 and a beta of 1.28. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business’s 50-day moving average is $77.43 and its 200-day moving average is $73.80. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities research analysts predict that Insmed will post -4.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Sara Bonstein sold 1,066 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the transaction, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at $7,573,950.36. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the transaction, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $27,079,091.58. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,957 shares of company stock valued at $42,992,528. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently modified their holdings of INSM. Elequin Capital LP purchased a new position in Insmed in the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC lifted its stake in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management purchased a new position in Insmed in the fourth quarter valued at approximately $47,000. Finally, Smartleaf Asset Management LLC lifted its stake in Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 411 shares during 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.