Insmed (NASDAQ:INSM) Price Target Lowered to $175.00 at Wells Fargo & Company

Insmed (NASDAQ:INSM) had its target price decreased by analysts at Wells Fargo & Company from $208.00 to $175.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.21% from the company’s current price.

Several other research firms have also issued reports on INSM. Roth Mkm upgraded Insmed to a “strong-buy” rating in a research report on Friday, January 23rd. Royal Bank Of Canada boosted their price objective on Insmed from $197.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Thursday, January 22nd. UBS Group cut their target price on shares of Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Finally, Stifel Nicolaus set a $205.00 target price on shares of Insmed in a research note on Thursday, February 19th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Insmed has an average rating of “Buy” and an average target price of $204.00.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $144.38 on Monday. The stock has a market cap of $31.12 billion, a PE ratio of -22.59 and a beta of 1.13. The company’s fifty day moving average is $151.95 and its 200 day moving average is $166.26. Insmed has a 52 week low of $60.40 and a 52 week high of $212.75. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. During the same quarter in the previous year, the company earned ($1.32) earnings per share. The business’s quarterly revenue was up 152.6% on a year-over-year basis. Research analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $143.52, for a total value of $1,535,520.48. Following the sale, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,226,071.20. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Adsett sold 791 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.17, for a total value of $123,530.47. Following the transaction, the chief operating officer directly owned 106,810 shares in the company, valued at $16,680,517.70. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 189,651 shares of company stock worth $31,533,654. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC increased its position in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC purchased a new stake in Insmed in the fourth quarter worth about $27,000. Stone House Investment Management LLC bought a new stake in Insmed during the 3rd quarter valued at approximately $29,000. SBI Securities Co. Ltd. grew its holdings in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, GraniteShares Advisors LLC purchased a new position in shares of Insmed during the 4th quarter worth approximately $30,000.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.