Bank of America Increases Insmed (NASDAQ:INSM) Price Target to $109.00

Insmed (NASDAQ:INSM) had its price target raised by Bank of America from $94.00 to $109.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price would indicate a potential upside of 17.39% from the stock’s current price.

Several other equities research analysts have also issued reports on INSM. Leerink Partners boosted their price target on shares of Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Insmed in a research report on Wednesday, March 19th. HC Wainwright boosted their target price on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup upgraded shares of Insmed to a “buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.60.

Insmed Stock Up 2.1%

Shares of INSM stock opened at $92.86 on Wednesday. The stock’s 50 day simple moving average is $69.58 and its 200 day simple moving average is $73.14. Insmed has a twelve month low of $57.92 and a twelve month high of $95.40. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of -16.51 and a beta of 0.80.

Insmed (NASDAQ:INSM) last posted 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). The company had revenue of $92.82 million during the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.06) earnings per share. As a group, research analysts predict that Insmed will post -4.56 EPS for the current year.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the completion of the transaction, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $25,742,347.58. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 9,925 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the transaction, the insider now owns 86,596 shares of the company’s stock, valued at $5,669,440.12. This represents a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,994 shares of company stock valued at $11,320,938 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP bought a new position in Insmed in the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC increased its stake in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. NBC Securities Inc. bought a new stake in Insmed during the 1st quarter worth about $49,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 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.