Insmed (NASDAQ:INSM) Price Target Raised to $139.00

Insmed (NASDAQ:INSM) had its target price upped by Truist Financial from $126.00 to $139.00 in a research note released on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Insmed from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho lifted their target price on Insmed from $130.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup upgraded Insmed to a “buy” rating in a research note on Tuesday, June 10th. Stifel Nicolaus lifted their target price on Insmed from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $90.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.57.

Insmed Trading Up 0.0%

NASDAQ:INSM opened at $127.80 on Thursday. The stock’s 50 day moving average price is $103.62 and its 200 day moving average price is $83.92. The company has a market capitalization of $27.01 billion, a PE ratio of -22.38 and a beta of 0.95. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. Insmed has a 52-week low of $60.40 and a 52-week high of $128.48.

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

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 233,924 shares in the company, valued at approximately $23,946,799.88. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 525,716 shares of company stock valued at $49,665,671 in the last three months. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new position in Insmed during the first quarter worth $975,000. OneDigital Investment Advisors LLC raised its holdings in Insmed by 47.1% during the first quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company’s stock worth $399,000 after purchasing an additional 1,673 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Insmed during the first quarter worth $255,000. GAMMA Investing LLC raised its holdings in Insmed by 62.0% during the first quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 386 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Insmed by 16.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 541 shares during the last quarter.

Insmed Company Profile

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.