Insmed (NASDAQ:INSM) Price Target Raised to $115.00

Insmed (NASDAQ:INSM) had its target price increased by equities research analysts at Leerink Partners from $100.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Partners’ target price points to a potential upside of 26.46% from the stock’s previous close.

INSM has been the topic of several other research reports. Stifel Nicolaus decreased their target price on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Monday, May 12th. Jefferies Financial Group initiated coverage on Insmed in a research note on Tuesday, May 13th. They set a “buy” rating and a $105.00 target price for the company. Citigroup upgraded shares of Insmed to a “buy” rating in a research note on Tuesday. Finally, Bank of America boosted their price objective on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average target price of $98.93.

Insmed Price Performance

Shares of NASDAQ INSM traded up $20.26 during trading on Tuesday, hitting $90.94. The company had a trading volume of 13,927,333 shares, compared to its average volume of 2,126,418. The stock has a fifty day simple moving average of $69.23 and a two-hundred day simple moving average of $73.01. Insmed has a fifty-two week low of $56.03 and a fifty-two week high of $91.47. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of -16.27 and a beta of 0.80. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The company had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted ($1.06) EPS. On average, research analysts expect that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 4,407 shares of Insmed stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total value of $298,838.67. Following the transaction, the insider now directly owns 92,203 shares in the company, valued at $6,252,285.43. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the transaction, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. This represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,994 shares of company stock worth $11,320,938. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Insmed by 3.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 186 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Insmed by 8.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company’s stock valued at $29,590,000 after buying an additional 32,960 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of Insmed by 2.2% in the fourth quarter. Legato Capital Management LLC now owns 36,871 shares of the biopharmaceutical company’s stock valued at $2,546,000 after buying an additional 792 shares in the last quarter. Values First Advisors Inc. grew its holdings in Insmed by 4.4% during the fourth quarter. Values First Advisors Inc. now owns 5,199 shares of the biopharmaceutical company’s stock worth $359,000 after acquiring an additional 221 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 248 shares in the last quarter.

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.