Wells Fargo & Company Raises Insmed (NASDAQ:INSM) Price Target to $119.00

Insmed (NASDAQ:INSM) had its price target hoisted by equities research analysts at Wells Fargo & Company from $107.00 to $119.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 28.16% from the company’s current price.

A number of other equities analysts also recently commented on INSM. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Jefferies Financial Group reissued a “buy” rating on shares of Insmed in a research report on Tuesday. Stifel Nicolaus reduced their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. Bank of America increased their price objective on Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Guggenheim reiterated a “buy” rating and set a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.60.

Insmed Trading Up 2.1%

NASDAQ:INSM opened at $92.86 on Wednesday. The company has a market capitalization of $16.91 billion, a PE ratio of -16.51 and a beta of 0.80. The stock’s 50 day moving average price is $69.58 and its 200 day moving average price is $73.14. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed has a 52-week low of $57.92 and a 52-week high of $95.40.

Insmed (NASDAQ:INSM) last issued its 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 business had revenue of $92.82 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted ($1.06) earnings per share. On average, research analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 4,407 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total transaction of $298,838.67. Following the completion of the transaction, the insider now directly owns 92,203 shares in the company, valued at $6,252,285.43. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 334,186 shares in the company, valued at approximately $25,742,347.58. This trade represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,994 shares of company stock worth $11,320,938 over the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $446,000 after buying an additional 186 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Insmed by 8.4% during the 4th 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 during the period. Legato Capital Management LLC grew its stake in shares of Insmed by 2.2% during the 4th 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 during the period. Values First Advisors Inc. raised its position in shares of Insmed by 4.4% during the 4th quarter. Values First Advisors Inc. now owns 5,199 shares of the biopharmaceutical company’s stock valued at $359,000 after purchasing an additional 221 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in shares of Insmed by 60.3% in 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.

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.