Insmed (NASDAQ:INSM) Given New $221.00 Price Target at Guggenheim

Insmed (NASDAQ:INSM) had its target price trimmed by Guggenheim from $230.00 to $221.00 in a report published on Thursday, Marketbeat reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other research reports. TD Cowen lifted their target price on shares of Insmed from $231.00 to $269.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Cowen reiterated a “buy” rating on shares of Insmed in a report on Wednesday, December 10th. Rothschild Redb upgraded Insmed to a “strong-buy” rating in a report on Thursday, December 4th. Jefferies Financial Group set a $269.00 price target on Insmed in a report on Wednesday, December 10th. Finally, Bank of America lifted their target price on Insmed from $142.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $202.55.

Insmed Trading Down 16.1%

Shares of Insmed stock opened at $166.55 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The company has a market capitalization of $35.52 billion, a P/E ratio of -26.91 and a beta of 1.01. Insmed has a 1 year low of $60.40 and a 1 year high of $212.75. The company’s fifty day moving average is $187.41 and its two-hundred day moving average is $142.30.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The company had revenue of $142.34 million for the quarter, compared to analyst estimates of $114.33 million. During the same period in the previous year, the business posted ($1.27) earnings per share. The firm’s revenue was up 52.4% compared to the same quarter last year. Analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leo Lee sold 75,000 shares of Insmed stock in a transaction on Monday, November 17th. The stock was sold at an average price of $195.90, for a total value of $14,692,500.00. Following the transaction, the director directly owned 54,677 shares in the company, valued at $10,711,224.30. The trade was a 57.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 30,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $194.00, for a total value of $5,820,000.00. Following the completion of the transaction, the insider owned 36,461 shares of the company’s stock, valued at $7,073,434. This trade represents a 45.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 147,130 shares of company stock valued at $28,480,051. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. raised its holdings in shares of Insmed by 9.2% during the first quarter. Raymond James Financial Inc. now owns 408,937 shares of the biopharmaceutical company’s stock valued at $31,197,000 after acquiring an additional 34,491 shares during the period. Northwest & Ethical Investments L.P. raised its stake in Insmed by 42.9% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 1,500 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 450 shares during the period. Wellington Management Group LLP raised its stake in Insmed by 62.5% during the 1st quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company’s stock valued at $93,274,000 after purchasing an additional 470,401 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Insmed by 1.5% in the first quarter. Hsbc Holdings PLC now owns 21,423 shares of the biopharmaceutical company’s stock valued at $1,613,000 after purchasing an additional 315 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Insmed by 22.9% in the first quarter. EntryPoint Capital LLC now owns 3,997 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 745 shares during the period.

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.