Bank of America Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its target price increased by Bank of America from $92.00 to $96.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price target suggests a potential upside of 18.80% from the stock’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. UBS Group boosted their target price on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Stifel Nicolaus dropped their target price on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Insmed in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Stock Up 2.4 %

Shares of INSM traded up $1.87 during trading hours on Thursday, hitting $80.81. The company had a trading volume of 154,884 shares, compared to its average volume of 2,165,339. The company has a market capitalization of $14.63 billion, a PE ratio of -14.46 and a beta of 1.28. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed has a one year low of $21.92 and a one year high of $84.91. The company’s fifty day moving average price is $76.88 and its two-hundred day moving average price is $73.74.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, equities analysts forecast that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Martina M.D. Flammer sold 6,172 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the transaction, the insider now owns 101,549 shares of the company’s stock, valued at $6,462,578.36. The trade was a 5.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 550,957 shares of company stock valued at $42,992,528 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after purchasing an additional 4,560 shares during the period. Capital CS Group LLC acquired a new position in Insmed in the 4th quarter worth about $586,000. Orion Portfolio Solutions LLC raised its holdings in Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares during the period. Ally Bridge Group NY LLC raised its holdings in Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after purchasing an additional 21,833 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the period.

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.