Insmed (NASDAQ:INSM) Price Target Lowered to $109.00 at UBS Group

Insmed (NASDAQ:INSM) had its target price trimmed by UBS Group from $110.00 to $109.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on INSM. Guggenheim reaffirmed a “buy” rating and issued a $101.00 price target on shares of Insmed in a research note on Tuesday, February 25th. Wells Fargo & Company lifted their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $93.93.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $65.08 on Friday. Insmed has a 12-month low of $21.92 and a 12-month high of $84.91. The company has a market cap of $11.83 billion, a PE ratio of -11.64 and a beta of 0.84. The stock has a 50 day simple moving average of $72.37 and a 200-day simple moving average of $73.26. 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 (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the company posted ($1.06) EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities research analysts forecast that Insmed will post -4.56 EPS for the current year.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 13,302 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,064,160.00. Following the completion of the sale, the chief financial officer now directly owns 142,204 shares in the company, valued at approximately $11,376,320. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated 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 owns 334,186 shares in the company, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,337 shares of company stock valued at $14,284,557 over the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently made changes to their positions in INSM. Principal Financial Group Inc. raised its position in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after acquiring an additional 214,130 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Insmed by 237.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock worth $4,115,000 after purchasing an additional 41,918 shares during the last quarter. JCIC Asset Management Inc. raised its holdings in shares of Insmed by 40.7% during the 4th quarter. JCIC Asset Management Inc. now owns 2,560 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 740 shares in the last quarter. Capital CS Group LLC acquired a new stake in shares of Insmed in the 4th quarter valued at $586,000. Finally, Park Avenue Securities LLC boosted its holdings in Insmed by 42.1% in the fourth quarter. Park Avenue Securities LLC now owns 7,955 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 2,358 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.