Morgan Stanley Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its price objective boosted by Morgan Stanley from $102.00 to $108.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective points to a potential upside of 3.26% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Leerink Partners raised their price target on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. The Goldman Sachs Group raised their price target on shares of Insmed from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Wells Fargo & Company lifted their price objective on shares of Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Mizuho lifted their price objective on shares of Insmed from $96.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Insmed from $99.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. One equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.47.

Insmed Stock Up 1.7%

INSM opened at $104.59 on Thursday. The firm has a 50 day moving average price of $85.41 and a 200 day moving average price of $78.02. The company has a market cap of $19.84 billion, a PE ratio of -17.58 and a beta of 0.90. Insmed has a 1 year low of $60.40 and a 1 year high of $106.83. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm had revenue of $92.82 million during the quarter, compared to analyst estimates of $91.63 million. During the same period last year, the business earned ($1.06) EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. Sell-side analysts expect that Insmed will post -4.56 earnings per share for the current year.

Insider Activity

In other Insmed news, Director David W. J. Mcgirr sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $73.27, for a total transaction of $219,810.00. Following the completion of the sale, the director owned 97,723 shares of the company’s stock, valued at $7,160,164.21. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares of the company’s stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 548,197 shares of company stock valued at $49,124,834. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

Large investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC lifted its holdings in shares of Insmed by 47.1% during the first quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock worth $399,000 after buying an additional 1,673 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Insmed during the first quarter worth approximately $255,000. GAMMA Investing LLC lifted its holdings in shares of Insmed by 62.0% during the first quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 386 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Insmed by 16.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 541 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Insmed by 37.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,935 shares of the biopharmaceutical company’s stock worth $1,521,000 after buying an additional 5,453 shares during the last quarter.

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.