Insmed (NASDAQ:INSM) Price Target Raised to $100.00

Insmed (NASDAQ:INSM) had its price objective raised by Truist Financial from $85.00 to $100.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other reports. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the company a buy rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $72.00 to $74.00 and gave the stock an overweight rating in a report on Thursday, October 3rd. Stifel Nicolaus increased their price target on shares of Insmed from $74.00 to $88.00 and gave the company a buy rating in a report on Friday, August 9th. StockNews.com cut Insmed from a hold rating to a sell rating in a research note on Friday, August 9th. Finally, Guggenheim raised their price objective on Insmed from $70.00 to $95.00 and gave the company a buy rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $82.73.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $74.56 on Friday. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of -14.26 and a beta of 1.11. The firm has a fifty day moving average price of $73.84 and a 200 day moving average price of $56.80. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter last year, the business earned ($1.78) earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts expect that Insmed will post -5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Vanguard Group Inc. increased its holdings in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. purchased a new position in shares of Insmed in the second quarter worth $237,076,000. Principal Financial Group Inc. lifted its stake in shares of Insmed by 15.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after buying an additional 218,480 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Insmed during the 1st quarter valued at about $43,973,000.

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.