Insmed (NASDAQ:INSM) Price Target Raised to $269.00

Insmed (NASDAQ:INSM) had its price target raised by TD Cowen from $231.00 to $269.00 in a report published on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial upped their target price on Insmed from $126.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Redburn Partners set a $263.00 price objective on Insmed in a report on Thursday, December 4th. Guggenheim lifted their target price on Insmed from $125.00 to $172.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Morgan Stanley boosted their price target on shares of Insmed from $126.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Finally, Bank of America raised their price objective on shares of Insmed from $142.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.26.

Insmed Stock Performance

INSM stock opened at $197.01 on Thursday. The company has a 50-day simple moving average of $185.10 and a 200 day simple moving average of $139.40. The company has a market capitalization of $42.02 billion, a P/E ratio of -31.83 and a beta of 1.01. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The company had revenue of $142.34 million for the quarter, compared to the consensus estimate of $114.33 million. Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.27) earnings per share. Sell-side analysts predict that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 27,130 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the sale, the insider owned 54,902 shares in the company, valued at approximately $10,089,889.56. The trade was a 33.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth M. Anderson sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $195.87, for a total transaction of $1,958,700.00. Following the completion of the transaction, the director owned 63,729 shares of the company’s stock, valued at approximately $12,482,599.23. The trade was a 13.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 147,130 shares of company stock worth $28,480,051. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. Chung Wu Investment Group LLC bought a new stake in Insmed during the 2nd quarter valued at approximately $173,000. Resolute Capital Asset Partners LLC acquired a new position in shares of Insmed during the second quarter worth approximately $2,748,000. Caxton Associates LLP bought a new stake in shares of Insmed in the first quarter valued at approximately $441,000. Assenagon Asset Management S.A. grew its stake in shares of Insmed by 84.5% in the second quarter. Assenagon Asset Management S.A. now owns 73,404 shares of the biopharmaceutical company’s stock worth $7,387,000 after acquiring an additional 33,626 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Insmed during the second quarter worth $5,578,000.

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.