Bank of America Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price objective raised by equities research analysts at Bank of America from $92.00 to $96.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price would indicate a potential upside of 18.80% from the company’s previous close.

Several other research analysts have also weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Insmed in a research report on Wednesday. Morgan Stanley increased their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. UBS Group increased their price objective on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insmed Price Performance

Shares of Insmed stock traded up $1.87 during mid-day trading on Thursday, reaching $80.81. 154,884 shares of the stock traded hands, compared to its average volume of 2,165,339. The business has a 50-day moving average of $76.88 and a 200 day moving average of $73.74. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The stock has a market capitalization of $14.63 billion, a PE ratio of -14.46 and a beta of 1.28. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. On average, analysts predict that Insmed will post -4.56 EPS for the current year.

Insider Activity

In other news, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the sale, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,957 shares of company stock worth $42,992,528. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of Insmed by 4.5% in the fourth quarter. California State Teachers Retirement System now owns 153,343 shares of the biopharmaceutical company’s stock valued at $10,587,000 after acquiring an additional 6,601 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Insmed by 10.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,231 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 307 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Insmed in the fourth quarter valued at $6,798,000. Mackenzie Financial Corp raised its stake in Insmed by 12.5% in the fourth quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 1,213 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Insmed in the fourth quarter valued at $259,000.

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.