Insmed (NASDAQ:INSM) Given New $90.00 Price Target at Morgan Stanley

Insmed (NASDAQ:INSM) had its price objective raised by research analysts at Morgan Stanley from $85.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target points to a potential upside of 12.57% from the company’s previous close.

A number of other equities research analysts have also issued reports on INSM. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Bank of America upped their target price on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.00.

Insmed Stock Down 1.0 %

Shares of Insmed stock opened at $79.95 on Thursday. The company has a fifty day moving average price of $72.79 and a 200 day moving average price of $73.10. 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 twelve month low of $21.92 and a twelve month high of $82.04. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of -14.41 and a beta of 1.11.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sara Bonstein sold 3,470 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the transaction, the chief financial officer now owns 114,736 shares in the company, valued at $7,538,155.20. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 401,030 shares of company stock worth $30,993,629. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Insmed in the third quarter worth about $30,000. Steward Partners Investment Advisory LLC raised its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the last quarter. Spire Wealth Management acquired a new position in Insmed during the 4th quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC grew its stake in 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 during 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.