Insmed (NASDAQ:INSM) PT Raised to $100.00 at Truist Financial

Insmed (NASDAQ:INSM) had its price objective upped by analysts at Truist Financial from $85.00 to $100.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price indicates a potential upside of 34.12% from the company’s previous close.

INSM has been the subject of a number of other reports. Morgan Stanley raised their target price on Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Thursday, August 29th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Evercore ISI increased their price target on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.73.

Insmed Stock Performance

NASDAQ INSM opened at $74.56 on Friday. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The firm has a market capitalization of $11.08 billion, a P/E ratio of -14.26 and a beta of 1.11. The stock has a 50-day simple moving average of $73.84 and a two-hundred day simple moving average of $56.80. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. Insmed’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.78) EPS. On average, equities analysts forecast that Insmed will post -5.41 earnings per share for the current year.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of Insmed during the 4th quarter valued at about $116,000. American International Group Inc. lifted its stake in Insmed by 4.4% in the fourth quarter. American International Group Inc. now owns 68,710 shares of the biopharmaceutical company’s stock valued at $2,129,000 after buying an additional 2,921 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new stake in Insmed in the 4th quarter valued at about $12,551,000. Nomura Holdings Inc. acquired a new position in Insmed during the 4th quarter valued at about $341,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in Insmed by 6.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 146,912 shares of the biopharmaceutical company’s stock worth $3,986,000 after purchasing an additional 8,877 shares during the last quarter.

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.