Truist Financial Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its price target boosted by Truist Financial from $105.00 to $108.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the company. Guggenheim raised their price target on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised 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. Wells Fargo & Company upped their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus dropped their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday. One research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insmed Stock Down 3.0 %

INSM stock opened at $81.06 on Friday. The company’s 50 day moving average price is $74.29 and its 200 day moving average price is $73.59. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. 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 (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. On average, equities research analysts anticipate that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the company’s 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 completion of the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This represents a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 directly owns 97,083 shares of the company’s stock, 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. Insiders sold a total of 532,207 shares of company stock worth $41,400,465 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently bought and sold shares of INSM. Vanguard Group Inc. boosted its holdings in shares of Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter. Darwin Global Management Ltd. raised its holdings in Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Insmed by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock valued at $877,113,000 after purchasing an additional 123,429 shares during the period. Capital International Investors boosted its holdings in Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock valued at $491,357,000 after purchasing an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock worth $282,243,000 after purchasing an additional 273,759 shares during the period.

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.