Insmed (NASDAQ:INSM) Price Target Raised to $101.00

Insmed (NASDAQ:INSM) had its price objective boosted by Guggenheim from $95.00 to $101.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the subject of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insmed Stock Down 1.0 %

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

Insider Transactions at Insmed

In other news, CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,885,606.40. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sara Bonstein sold 3,470 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now directly owns 114,736 shares of the company’s stock, valued at $7,538,155.20. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 401,030 shares of company stock valued at $30,993,629 over the last three months. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Vestal Point Capital LP raised its position in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Insmed during the third quarter valued at approximately $35,322,000. Assenagon Asset Management S.A. raised its position in Insmed by 119.2% during the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after acquiring an additional 466,306 shares in the last quarter. Victory Capital Management Inc. raised its position in Insmed by 209.9% during the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after acquiring an additional 308,819 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Insmed during the third quarter valued at approximately $18,377,000.

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.