Insmed (NASDAQ:INSM) Price Target Raised to $112.00

Insmed (NASDAQ:INSM) had its target price raised by The Goldman Sachs Group from $100.00 to $112.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the company. Truist Financial increased their price objective on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Insmed in a research report on Tuesday. Mizuho raised their target price on Insmed from $96.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America raised their price target on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright raised their target price on shares of Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.81.

Insmed Trading Up 1.9%

Shares of NASDAQ INSM opened at $98.73 on Wednesday. The stock has a market capitalization of $17.98 billion, a P/E ratio of -17.66 and a beta of 0.80. The business’s 50 day moving average is $70.73 and its two-hundred day moving average is $73.47. Insmed has a 1-year low of $60.40 and a 1-year high of $100.00. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The firm had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.06) EPS. As a group, research analysts expect that Insmed will post -4.56 EPS for the current year.

Insider Activity

In other Insmed news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,742,347.58. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sara Bonstein sold 57,766 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $89.12, for a total transaction of $5,148,105.92. Following the transaction, the chief financial officer now owns 103,412 shares in the company, valued at $9,216,077.44. The trade was a 35.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 319,932 shares of company stock valued at $25,733,693. Insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Several large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. boosted its position in Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP acquired a new stake in Insmed during the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC grew its holdings in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in 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 acquiring an additional 248 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Insmed in the 1st quarter valued at about $49,000.

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.