Insmed (NASDAQ:INSM) Price Target Raised to $206.00

Insmed (NASDAQ:INSM) had its price objective raised by Mizuho from $204.00 to $206.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday. Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Truist Financial set a $205.00 price objective on shares of Insmed in a research report on Monday, January 12th. Cantor Fitzgerald boosted their target price on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group increased their target price on Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $210.19.

Insmed Trading Down 1.6%

NASDAQ:INSM opened at $145.30 on Wednesday. The stock has a fifty day simple moving average of $150.13 and a 200 day simple moving average of $165.97. The firm has a market capitalization of $31.32 billion, a price-to-earnings ratio of -22.67 and a beta of 1.13. Insmed has a 1-year low of $60.40 and a 1-year 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 data 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 return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. During the same quarter in the previous year, the firm posted ($1.32) EPS. Insmed’s quarterly revenue was up 152.6% on a year-over-year basis. Sell-side analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other Insmed news, COO Roger Adsett sold 791 shares of the company’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 owned 106,810 shares in the company, valued at approximately $16,680,517.70. This represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total transaction of $100,012.80. Following the completion of the sale, the insider owned 56,397 shares of the company’s stock, valued at approximately $8,813,159.19. The trade was a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 189,651 shares of company stock valued at $31,533,654. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently modified their holdings of INSM. EULAV Asset Management acquired a new stake in Insmed in the third quarter valued at approximately $12,961,000. Resolute Capital Asset Partners LLC bought a new stake in Insmed in the second quarter worth approximately $2,748,000. Artisan Partners Limited Partnership increased its stake in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Insmed by 374.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock worth $1,507,000 after purchasing an additional 8,261 shares during the last quarter. Finally, Atika Capital Management LLC bought a new position in shares of Insmed during the 3rd quarter valued at $13,681,000.

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.