Cantor Fitzgerald Reaffirms “Overweight” Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports.

INSM has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Stifel Nicolaus upped their target price on Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.86.

Insmed Stock Up 0.6 %

NASDAQ:INSM traded up $0.47 during mid-day trading on Wednesday, reaching $81.83. The stock had a trading volume of 169,130 shares, compared to its average volume of 1,845,243. The business’s 50 day moving average is $73.51 and its 200 day moving average is $73.31. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $82.04. The stock has a market cap of $14.64 billion, a P/E ratio of -14.62 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insider Buying and Selling

In related news, CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the transaction, the chief executive officer now directly owns 392,589 shares of the company’s stock, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction on 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 directly owns 101,549 shares of the company’s stock, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 495,135 shares of company stock valued at $38,409,713 over the last ninety days. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in Insmed by 0.6% during the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares in the last quarter. Capital CS Group LLC acquired a new position in Insmed during the fourth quarter worth $586,000. Orion Portfolio Solutions LLC raised its stake in Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after acquiring an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC raised its stake in Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after acquiring an additional 21,833 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Insmed during the third quarter worth $35,322,000.

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.