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

Insmed (NASDAQ:INSM) had its target price lifted by equities research analysts at Truist Financial from $105.00 to $108.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price target points to a potential upside of 32.70% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday. Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus reduced their target price on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insmed Price Performance

NASDAQ INSM traded down $2.22 on Friday, reaching $81.39. 718,020 shares of the stock traded hands, compared to its average volume of 1,888,672. The firm’s fifty day simple moving average is $74.11 and its 200 day simple moving average is $73.52. 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 company has a market cap of $14.56 billion, a price-to-earnings ratio of -14.69 and a beta of 1.11. Insmed has a 12 month low of $21.92 and a 12 month high of $84.91.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. As a group, research analysts predict that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares in the company, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 3,470 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were 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 approximately $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. Insiders have sold a total of 532,207 shares of company stock worth $41,400,465 over the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its position in shares of Insmed by 12.5% in the fourth quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 1,213 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Insmed in the fourth quarter valued at about $259,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Insmed in the fourth quarter valued at about $278,000. Vise Technologies Inc. grew its position in shares of Insmed by 6.3% in the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock valued at $389,000 after purchasing an additional 336 shares during the last quarter. Finally, Castleark Management LLC grew its position in shares of Insmed by 21.9% in the fourth quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock valued at $3,644,000 after purchasing an additional 9,480 shares during the last quarter.

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.