Insmed (NASDAQ:INSM) Price Target Raised to $90.00 at Morgan Stanley

Insmed (NASDAQ:INSM) had its price objective hoisted by investment analysts at Morgan Stanley from $85.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective indicates a potential upside of 10.51% from the company’s current price.

INSM has been the topic of a number of other reports. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, 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. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Insmed Price Performance

Shares of INSM opened at $81.44 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market cap of $14.57 billion, a PE ratio of -14.67 and a beta of 1.11. The firm’s 50 day moving average price is $72.69 and its 200 day moving average price is $73.04. Insmed has a twelve month low of $21.92 and a twelve month high of $81.96.

Insider Activity

In other Insmed news, CFO Sara Bonstein sold 1,066 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at $7,573,950.36. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,630 shares of company stock worth $15,913,869. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in shares of Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 411 shares during the last quarter. US Bancorp DE boosted its position in Insmed by 20.2% in the 4th quarter. US Bancorp DE now owns 9,533 shares of the biopharmaceutical company’s stock valued at $658,000 after buying an additional 1,601 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Insmed in the 4th quarter valued at $1,864,000. Nwam LLC bought a new stake in shares of Insmed during the fourth quarter worth $2,492,000. Finally, Amalgamated Bank lifted its stake in shares of Insmed by 10.4% during the fourth quarter. Amalgamated Bank now owns 5,879 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 552 shares during the period.

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.