Bank of America Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its price target lifted by Bank of America from $92.00 to $96.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Insmed in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Truist Financial lifted their price target on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus lowered their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Trading Down 0.2 %

Shares of Insmed stock opened at $78.77 on Thursday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of -14.09 and a beta of 1.28. Insmed has a 52-week low of $21.92 and a 52-week high of $84.91. The company’s 50-day simple moving average is $77.14 and its 200-day simple moving average is $73.77.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, equities research analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were 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 approximately $7,766,640. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 550,957 shares of company stock valued at $42,992,528 over the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Insmed by 4.5% during the fourth quarter. California State Teachers Retirement System now owns 153,343 shares of the biopharmaceutical company’s stock valued at $10,587,000 after acquiring an additional 6,601 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Insmed by 10.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,231 shares of the biopharmaceutical company’s stock valued at $223,000 after purchasing an additional 307 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Insmed during the 4th quarter worth about $6,798,000. Mackenzie Financial Corp grew its holdings in shares of Insmed by 12.5% during the 4th quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 1,213 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in Insmed during the 4th quarter worth approximately $259,000.

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.