Bank of America Increases Insmed (NASDAQ:INSM) Price Target to $96.00

Insmed (NASDAQ:INSM - Free Report) had its price objective lifted by Bank of America from $92.00 to $96.00 in a research report sent to investors on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company's stock.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. 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. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, February 21st. Guggenheim restated a "buy" rating and set a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Finally, UBS Group boosted their target price on shares of Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Insmed has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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Insmed Stock Down 0.7 %

Insmed stock traded down $0.54 during mid-day trading on Thursday, hitting $79.38. The company had a trading volume of 1,338,984 shares, compared to its average volume of 2,179,440. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The business has a fifty day moving average of $77.64 and a 200 day moving average of $73.84. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of -14.20 and a beta of 1.28.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. On average, sell-side analysts expect that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Lewis sold 2,978 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the transaction, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the sale, the chief financial officer now owns 118,863 shares of the company's stock, valued at $7,573,950.36. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently made changes to their positions in the business. Atria Investments Inc increased its holdings in Insmed by 61.7% in the 3rd quarter. Atria Investments Inc now owns 4,985 shares of the biopharmaceutical company's stock valued at $364,000 after purchasing an additional 1,902 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Insmed in the third quarter worth about $376,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Insmed in the third quarter valued at about $232,000. CIBC Asset Management Inc raised its holdings in shares of Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company's stock valued at $324,000 after buying an additional 149 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in shares of Insmed during the 3rd quarter valued at about $1,525,000.

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.