Insmed (NASDAQ:INSM) Price Target Cut to $96.00 by Analysts at Stifel Nicolaus

Insmed (NASDAQ:INSM) had its price objective lowered by Stifel Nicolaus from $97.00 to $96.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on INSM. Wells Fargo & Company boosted their price objective on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Wednesday. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday. One investment analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $81.06 on Friday. The business’s fifty day moving average price is $74.29 and its two-hundred day moving average price is $73.59. The stock has a market cap of $14.50 billion, a PE ratio of -14.61 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed has a one year low of $21.92 and a one year high of $84.91.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. On average, analysts forecast that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on 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 transaction, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now owns 101,549 shares in the company, valued at approximately $6,462,578.36. This represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,207 shares of company stock valued at $41,400,465 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elequin Capital LP acquired a new position in shares of Insmed during the fourth quarter worth $28,000. Steward Partners Investment Advisory LLC lifted its holdings in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares in the last quarter. Spire Wealth Management acquired a new position in Insmed in the 4th quarter worth $47,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Insmed by 98.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after buying 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.