Insmed (NASDAQ:INSM) Price Target Raised to $245.00

Insmed (NASDAQ:INSM) had its price objective increased by HC Wainwright from $230.00 to $245.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays began coverage on shares of Insmed in a report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 target price on the stock. Jefferies Financial Group initiated coverage on Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. Guggenheim decreased their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Morgan Stanley set a $166.00 target price on Insmed in a report on Friday, February 20th. Finally, Leerink Partners increased their price target on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $210.19.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $145.30 on Thursday. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $31.32 billion, a PE ratio of -22.67 and a beta of 1.13. Insmed has a twelve month low of $60.40 and a twelve month high of $212.75. The company has a 50-day moving average price of $150.13 and a two-hundred day moving average price of $166.10.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.Insmed’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.32) EPS. Equities analysts forecast that Insmed will post -4.56 EPS for the current year.

Insider Activity

In other Insmed news, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer directly owned 306,891 shares in the company, valued at $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the transaction, the insider directly owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 189,651 shares of company stock valued at $31,533,654 in the last three months. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. CoreCap Advisors LLC bought a new stake in Insmed during the fourth quarter worth about $27,000. Reflection Asset Management bought a new position in shares of Insmed during the 4th quarter valued at about $30,000. GraniteShares Advisors LLC bought a new position in shares of Insmed during the 4th quarter valued at about $30,000. CIBC Private Wealth Group LLC raised its holdings in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed during the 4th quarter valued at about $32,000.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.