Insmed (NASDAQ:INSM) Price Target Raised to $109.00 at Bank of America

Insmed (NASDAQ:INSM) had its target price hoisted by analysts at Bank of America from $94.00 to $109.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price suggests a potential upside of 12.51% from the company’s current price.

Several other research firms have also issued reports on INSM. Truist Financial upped their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Leerink Partners boosted their price target on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup raised shares of Insmed to a “buy” rating in a research report on Tuesday. HC Wainwright increased their price objective on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Guggenheim reissued a “buy” rating and set a $101.00 target price on shares of Insmed in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.81.

Insmed Trading Down 1.1%

INSM opened at $96.88 on Wednesday. The firm has a market capitalization of $17.65 billion, a PE ratio of -17.33 and a beta of 0.80. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $100.00. The company’s 50-day moving average is $70.73 and its 200 day moving average is $73.47. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The company had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.06) EPS. As a group, research analysts predict that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 6,830 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total transaction of $479,192.80. Following the completion of the transaction, the chief executive officer now directly owns 233,924 shares of the company’s stock, valued at approximately $16,412,107.84. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider now directly owns 89,407 shares of the company’s stock, valued at $8,352,401.94. This represents a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 262,166 shares of company stock valued at $20,585,587. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

Several large investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its holdings in Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Insmed in the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its position in shares of Insmed by 65.2% in the fourth 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% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 248 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Insmed in the 1st quarter worth approximately $49,000.

About Insmed

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.