Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Bank of America Analyst Says

Insmed (NASDAQ:INSM) had its target price upped by stock analysts at Bank of America from $94.00 to $109.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective indicates a potential upside of 17.39% from the stock’s previous close.

INSM has been the subject of several other reports. Guggenheim restated a “buy” rating and issued a $101.00 target price on shares of Insmed in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Leerink Partners boosted their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of Insmed in a research note on Tuesday. Finally, UBS Group lowered their target price on Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.60.

Insmed Stock Up 2.1%

Insmed stock opened at $92.86 on Wednesday. The company’s 50-day moving average is $69.58 and its 200-day moving average is $73.14. The firm has a market capitalization of $16.91 billion, a PE ratio of -16.51 and a beta of 0.80. 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 has a fifty-two week low of $57.92 and a fifty-two week high of $95.40.

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

Insider Activity

In other news, insider Michael Alexander Smith sold 4,407 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total value of $298,838.67. Following the completion of the sale, the insider now directly owns 92,203 shares of the company’s stock, valued at $6,252,285.43. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $77.03, for a total value 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. The trade was a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,994 shares of company stock worth $11,320,938 in the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INSM. Mirae Asset Global Investments Co. Ltd. increased its stake in Insmed by 3.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock valued at $446,000 after buying an additional 186 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Insmed by 8.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company’s stock valued at $29,590,000 after acquiring an additional 32,960 shares in the last quarter. Legato Capital Management LLC grew its holdings in shares of Insmed by 2.2% in the fourth quarter. Legato Capital Management LLC now owns 36,871 shares of the biopharmaceutical company’s stock valued at $2,546,000 after acquiring an additional 792 shares in the last quarter. Values First Advisors Inc. increased its position in shares of Insmed by 4.4% during the fourth quarter. Values First Advisors Inc. now owns 5,199 shares of the biopharmaceutical company’s stock valued at $359,000 after acquiring an additional 221 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Insmed by 60.3% during the fourth 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 during the period.

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.