Insmed (NASDAQ:INSM) Price Target Raised to $97.00

Insmed (NASDAQ:INSM) had its target price lifted by Stifel Nicolaus from $88.00 to $97.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Morgan Stanley boosted their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Guggenheim boosted their price target on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One equities research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Insmed Price Performance

Shares of NASDAQ INSM opened at $78.67 on Tuesday. The business’s 50 day moving average price is $73.23 and its two-hundred day moving average price is $73.20. The company has a market cap of $14.07 billion, a PE ratio of -14.17 and a beta of 1.11. 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 has a twelve month low of $21.92 and a twelve month high of $82.04.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now owns 138,053 shares in the company, valued at approximately $11,168,487.70. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the transaction, the chief executive officer now owns 392,589 shares in the company, valued at $24,874,439.04. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 495,135 shares of company stock worth $38,409,713 in the last 90 days. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. Truist Financial Corp purchased a new position in shares of Insmed during the second quarter valued at about $413,000. GAMMA Investing LLC increased its position in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 627 shares during the period. Creative Planning increased its position in shares of Insmed by 31.2% during the third quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock valued at $3,279,000 after buying an additional 10,668 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in shares of Insmed during the third quarter valued at about $30,000.

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.