Guggenheim Increases Insmed (NASDAQ:INSM) Price Target to $101.00

Insmed (NASDAQ:INSM) had its price objective hoisted by Guggenheim from $95.00 to $101.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price target indicates a potential upside of 26.88% from the company’s previous close.

A number of other brokerages have also recently commented on INSM. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley increased their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.40.

Insmed Price Performance

Shares of Insmed stock traded down $1.18 during trading on Friday, reaching $79.60. 662,605 shares of the company’s stock were exchanged, compared to its average volume of 1,915,237. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed has a 1-year low of $21.92 and a 1-year high of $82.04. The company has a market cap of $14.24 billion, a P/E ratio of -14.34 and a beta of 1.11. The firm’s 50-day moving average price is $72.79 and its 200 day moving average price is $73.10.

Insider Activity at Insmed

In other news, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.64, for a total transaction of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares of the company’s stock, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,630 shares of company stock valued at $15,913,869. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of large investors have recently added to or reduced their stakes in INSM. Geode Capital Management LLC grew its position in shares of Insmed by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after buying an additional 214,130 shares during the last quarter. Vestal Point Capital LP raised its stake in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after buying an additional 850,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Insmed by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,546,607 shares of the biopharmaceutical company’s stock valued at $106,778,000 after buying an additional 102,341 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Insmed by 2.6% in the third quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock worth $70,260,000 after acquiring an additional 24,025 shares in 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.