Insmed (NASDAQ:INSM) Price Target Raised to $110.00

Insmed (NASDAQ:INSM) had its target price raised by Mizuho from $96.00 to $110.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on INSM. HC Wainwright increased their price target on Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus cut their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. UBS Group cut their price objective on Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Truist Financial upped their price objective on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.81.

Insmed Trading Up 1.9%

Shares of INSM opened at $98.73 on Wednesday. The company has a market capitalization of $17.98 billion, a P/E ratio of -17.66 and a beta of 0.80. Insmed has a one year low of $60.40 and a one year high of $100.00. 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 stock has a 50-day moving average price of $70.73 and a 200 day moving average price of $73.47.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The business 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 company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.06) EPS. Sell-side analysts forecast that Insmed will post -4.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In related news, Director Clarissa Desjardins purchased 1,895 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average cost of $66.87 per share, for a total transaction of $126,718.65. Following the transaction, the director now owns 1,895 shares of the company’s stock, valued at $126,718.65. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider now owns 89,407 shares in the company, valued at approximately $8,352,401.94. This represents a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 319,932 shares of company stock worth $25,733,693. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Insmed

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in Insmed by 8.4% in 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. Principal Securities Inc. increased its position in Insmed by 55.5% in the 4th quarter. Principal Securities Inc. now owns 3,139 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 1,120 shares during the period. M&T Bank Corp increased its position in Insmed by 5.6% in the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 166 shares during the period. Truist Financial Corp increased its position in Insmed by 3.4% in the 4th quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company’s stock valued at $2,074,000 after acquiring an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Insmed by 98.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 411 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.