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

Insmed (NASDAQ:INSM) had its target price decreased by analysts at Stifel Nicolaus from $97.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.85% from the stock’s current price.

A number of other brokerages have also recently commented on INSM. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday. Wells Fargo & Company increased their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim boosted their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley raised their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.79.

Insmed Trading Up 0.8 %

Shares of INSM opened at $84.32 on Friday. The stock has a market capitalization of $15.08 billion, a PE ratio of -15.24 and a beta of 1.11. The company’s fifty day moving average is $74.11 and its 200 day moving average is $73.52. 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 fifty-two week low of $21.92 and a fifty-two week high of $84.72.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. Sell-side analysts expect that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Lewis sold 2,978 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the sale, the chief executive officer now directly owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sara Bonstein sold 18,322 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the sale, the chief financial officer now owns 118,863 shares in the company, valued at approximately $9,545,887.53. This represents a 13.36 % 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. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC boosted its position 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 purchasing an additional 4,560 shares in the last quarter. Capital CS Group LLC purchased a new position in shares of Insmed during the 4th quarter valued at approximately $586,000. Orion Portfolio Solutions LLC grew its stake in Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after acquiring an additional 9,170 shares during the period. Ally Bridge Group NY LLC grew its stake in Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after acquiring an additional 21,833 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Insmed in the 3rd 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.