Bank of America Increases Insmed (NASDAQ:INSM) Price Target to $86.00

Insmed (NASDAQ:INSM) had its target price lifted by equities researchers at Bank of America from $84.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective indicates a potential upside of 19.94% from the stock’s current price.

A number of other equities research analysts also recently weighed in on INSM. The Goldman Sachs Group lifted their price target on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI upped their target price on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. UBS Group upped their price objective on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Truist Financial decreased their target price on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.73.

Insmed Stock Performance

NASDAQ:INSM opened at $71.70 on Wednesday. The stock has a 50 day simple moving average of $73.79 and a 200 day simple moving average of $56.26. The stock has a market cap of $10.65 billion, a P/E ratio of -13.71 and a beta of 1.11. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. During the same period in the previous year, the firm posted ($1.78) earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts anticipate that Insmed will post -5.42 earnings per share for the current year.

Insider Activity

In related news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 over the last quarter. 4.60% of the stock is owned by company insiders.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Insmed in the 1st quarter worth about $33,000. Fidelis Capital Partners LLC bought a new stake in Insmed in the first quarter worth approximately $34,000. GAMMA Investing LLC increased its holdings in Insmed by 71.3% in the third 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. First Horizon Advisors Inc. lifted its stake in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares in the last quarter.

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.