Insmed (NASDAQ:INSM) Price Target Raised to $107.00 at Wells Fargo & Company

Insmed (NASDAQ:INSM) had its price target lifted by Wells Fargo & Company from $85.00 to $107.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on INSM. Guggenheim upped their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Morgan Stanley increased 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. increased their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. One equities research 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, Insmed has an average rating of “Moderate Buy” and an average target price of $90.86.

Insmed Price Performance

Shares of NASDAQ INSM opened at $83.83 on Wednesday. Insmed has a 1-year low of $21.92 and a 1-year high of $83.89. The business has a 50-day moving average of $73.87 and a 200-day moving average of $73.45. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of -15.10 and a beta of 1.11.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the sale, the insider now owns 97,083 shares in the company, valued at $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 495,135 shares of company stock worth $38,409,713. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently made changes to their positions in INSM. Exchange Traded Concepts LLC raised its position 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 purchasing an additional 627 shares during the period. Creative Planning grew its holdings in Insmed by 31.2% in the 3rd quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after buying an additional 10,668 shares in the last quarter. Blue Trust Inc. grew its holdings in Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 1,879 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Insmed by 18.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 390,134 shares of the biopharmaceutical company’s stock worth $28,480,000 after buying an additional 62,061 shares in the last quarter. Finally, JCIC Asset Management Inc. bought a new position in Insmed in the 3rd quarter worth approximately $133,000.

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.