The Goldman Sachs Group Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price target hoisted by investment analysts at The Goldman Sachs Group from $114.00 to $142.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 11.15% from the company’s current price.

A number of other research firms have also recently commented on INSM. Citigroup upgraded Insmed to a “buy” rating in a report on Tuesday, June 10th. HC Wainwright boosted their price objective on Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. boosted their price objective on Insmed from $90.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Mizuho boosted their price objective on Insmed from $130.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their price objective on Insmed from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.57.

Insmed Trading Up 4.0%

Insmed stock opened at $127.75 on Wednesday. Insmed has a 52 week low of $60.40 and a 52 week high of $128.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. The stock has a market capitalization of $27.00 billion, a P/E ratio of -22.37 and a beta of 0.95. The stock has a 50-day simple moving average of $102.53 and a 200 day simple moving average of $83.54.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%. The business had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same quarter in the previous year, the business posted ($1.94) EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts expect that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total value of $699,187.10. Following the completion of the sale, the chief executive officer directly owned 233,924 shares in the company, valued at approximately $23,946,799.88. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara Bonstein sold 58,400 shares of Insmed stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the completion of the sale, the chief financial officer owned 73,505 shares of the company’s stock, valued at approximately $7,546,758.35. The trade was a 44.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 525,716 shares of company stock valued at $49,665,671 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INSM. Wells Fargo & Company MN raised its position in Insmed by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 160,709 shares of the biopharmaceutical company’s stock valued at $11,095,000 after purchasing an additional 33,214 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Insmed by 6.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 256,358 shares of the biopharmaceutical company’s stock valued at $17,699,000 after purchasing an additional 15,227 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Insmed during the fourth quarter valued at approximately $1,746,000. Summit Investment Advisors Inc. raised its position in Insmed by 10.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 17,551 shares of the biopharmaceutical company’s stock valued at $1,212,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Mariner LLC raised its position in Insmed by 23.4% during the fourth quarter. Mariner LLC now owns 30,788 shares of the biopharmaceutical company’s stock valued at $2,126,000 after purchasing an additional 5,844 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.