Morgan Stanley Increases Insmed (NASDAQ:INSM) Price Target to $102.00

Insmed (NASDAQ:INSM) had its price target increased by Morgan Stanley from $90.00 to $102.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 7.29% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating on shares of Insmed in a report on Tuesday. HC Wainwright upped their target price on Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.40.

Insmed Stock Performance

Shares of Insmed stock traded up $4.14 on Wednesday, reaching $95.07. 3,972,547 shares of the stock were exchanged, compared to its average volume of 2,124,528. The business has a 50 day moving average price of $69.58 and a two-hundred day moving average price of $73.14. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of -16.96 and a beta of 0.80. Insmed has a twelve month low of $57.92 and a twelve month high of $96.08. 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 (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 analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. During the same period in the prior year, the business posted ($1.06) earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Analysts anticipate that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Alexander Smith sold 1,879 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $73.50, for a total value of $138,106.50. Following the completion of the transaction, the insider now directly owns 67,718 shares in the company, valued at approximately $4,977,273. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 4,999 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total value of $338,982.19. Following the sale, the insider now directly owns 115,879 shares of the company’s stock, valued at approximately $7,857,754.99. This trade represents a 4.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,994 shares of company stock valued at $11,320,938. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $446,000 after acquiring an additional 186 shares during the period. Allspring Global Investments Holdings LLC boosted 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 worth $29,590,000 after purchasing an additional 32,960 shares during the period. Legato Capital Management LLC increased its holdings in Insmed by 2.2% in the 4th quarter. Legato Capital Management LLC now owns 36,871 shares of the biopharmaceutical company’s stock valued at $2,546,000 after purchasing an additional 792 shares during the last quarter. Values First Advisors Inc. increased its holdings in Insmed by 4.4% in 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 last quarter. Finally, V Square Quantitative Management LLC raised its position in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing 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.