Morgan Stanley Raises Insmed (NASDAQ:INSM) Price Target to $90.00

Insmed (NASDAQ:INSM) had its price objective hoisted by investment analysts at Morgan Stanley from $85.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential upside of 10.51% from the company’s previous close.

Several other equities analysts have also recently issued reports on INSM. Bank of America lifted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.00.

Insmed Stock Performance

Shares of INSM stock opened at $81.44 on Thursday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock has a 50 day simple moving average of $72.69 and a 200-day simple moving average of $73.04. The company has a market cap of $14.57 billion, a price-to-earnings ratio of -14.67 and a beta of 1.11. Insmed has a 12-month low of $21.92 and a 12-month high of $81.96.

Insider Activity at Insmed

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the sale, the insider now owns 97,083 shares in the company, valued at $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,630 shares of company stock valued at $15,913,869. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of institutional investors have recently added to or reduced their stakes in INSM. V Square Quantitative Management LLC purchased a new position in shares of Insmed in the third quarter worth approximately $30,000. GAMMA Investing LLC grew its position in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. Spire Wealth Management acquired a new stake in Insmed during the 4th quarter valued at $47,000. Exchange Traded Concepts LLC raised its stake in Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 411 shares in 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.