Bank of America Raises Insmed (NASDAQ:INSM) Price Target to $86.00

Insmed (NASDAQ:INSM) had its target price boosted by Bank of America from $84.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price indicates a potential upside of 22.66% from the company’s previous close.

Several other research analysts have also commented on the stock. Guggenheim lifted their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Evercore ISI boosted their target price on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, TD Cowen boosted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.73.

Insmed Stock Down 1.8 %

Insmed stock traded down $1.26 during midday trading on Wednesday, hitting $70.11. 511,359 shares of the stock were exchanged, compared to its average volume of 2,374,359. The firm has a market cap of $10.42 billion, a P/E ratio of -13.36 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53. The company has a 50 day moving average price of $73.91 and a two-hundred day moving average price of $56.05.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. Insmed’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.78) earnings per share. On average, sell-side analysts predict that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 135 shares in the last quarter. CWM LLC lifted its stake in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 224 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 287 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Insmed by 1.4% in the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock worth $1,697,000 after buying an additional 314 shares during the last quarter.

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.