Insmed (NASDAQ:INSM) Price Target Raised to $92.00

Insmed (NASDAQ:INSM) had its target price lifted by JPMorgan Chase & Co. from $83.00 to $92.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on INSM. Morgan Stanley increased their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Guggenheim raised their price objective on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Insmed Stock Down 1.0 %

Shares of NASDAQ:INSM opened at $79.95 on Friday. Insmed has a 52-week low of $21.92 and a 52-week high of $82.04. The firm has a market capitalization of $14.30 billion, a P/E ratio of -14.41 and a beta of 1.11. The stock has a 50 day moving average price of $72.88 and a 200-day moving average price of $73.09. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares in the company, valued at $6,462,578.36. This trade represents a 5.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the transaction, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,030 shares of company stock worth $30,993,629. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Insmed by 18.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,476 shares of the biopharmaceutical company’s stock valued at $3,002,000 after purchasing an additional 6,755 shares during the period. Edgestream Partners L.P. grew its holdings in Insmed by 1,242.1% during the fourth quarter. Edgestream Partners L.P. now owns 43,619 shares of the biopharmaceutical company’s stock valued at $3,011,000 after purchasing an additional 40,369 shares during the period. Arizona State Retirement System grew its holdings in Insmed by 6.1% during the fourth quarter. Arizona State Retirement System now owns 47,342 shares of the biopharmaceutical company’s stock valued at $3,268,000 after purchasing an additional 2,722 shares during the period. Aigen Investment Management LP grew its holdings in Insmed by 193.3% during the fourth quarter. Aigen Investment Management LP now owns 11,936 shares of the biopharmaceutical company’s stock valued at $824,000 after purchasing an additional 7,867 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Insmed during the fourth quarter valued at about $1,864,000.

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.