Truist Financial Increases Insmed (NASDAQ:INSM) Price Target to $108.00

Insmed (NASDAQ:INSM) had its target price hoisted by research analysts at Truist Financial from $105.00 to $108.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price suggests a potential upside of 33.23% from the company’s previous close.

Several other equities analysts have also weighed in on INSM. Stifel Nicolaus reduced their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday. JPMorgan Chase & Co. increased their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Insmed Price Performance

Shares of NASDAQ INSM opened at $81.06 on Friday. The stock has a fifty day simple moving average of $74.29 and a two-hundred day simple moving average of $73.59. Insmed has a 1-year low of $21.92 and a 1-year high of $84.91. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of -14.50 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling

In other Insmed news, CFO Sara Bonstein sold 1,066 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.72, for a total transaction of $67,925.52. Following the sale, the chief financial officer now owns 118,863 shares in the company, valued at $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 532,207 shares of company stock worth $41,400,465. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of large investors have recently added to or reduced their stakes in INSM. Darwin Global Management Ltd. raised its position in Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Norges Bank purchased a new stake in Insmed during the fourth quarter valued at about $126,606,000. Vanguard Group Inc. raised its position in Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after purchasing an additional 1,075,796 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of 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 buying an additional 850,000 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Insmed during the fourth quarter valued at about $45,773,000.

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.