Insmed (NASDAQ:INSM) Price Target Raised to $107.00

Insmed (NASDAQ:INSM) had its price objective lifted by investment analysts at Wells Fargo & Company from $85.00 to $107.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 27.98% from the company’s current price.

A number of other equities research analysts also recently weighed in on INSM. Stifel Nicolaus lifted their price target on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Morgan Stanley raised their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Guggenheim upped their price target on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.86.

Insmed Stock Performance

NASDAQ:INSM opened at $83.61 on Wednesday. The firm’s 50-day moving average is $74.11 and its 200-day moving average is $73.52. The company has a market cap of $14.96 billion, a price-to-earnings ratio of -15.06 and a beta of 1.11. 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 52-week low of $21.92 and a 52-week high of $84.28.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Equities research analysts anticipate that Insmed will post -5.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 532,207 shares of company stock valued at $41,400,465. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently modified their holdings of INSM. Elequin Capital LP acquired a new position in Insmed in the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the period. Spire Wealth Management bought a new position in shares of Insmed in the 4th quarter worth $47,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period.

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.