Analysts Set Insmed Incorporated (NASDAQ:INSM) PT at $83.67

Shares of Insmed Incorporated (NASDAQ:INSM - Get Free Report) have earned an average recommendation of "Buy" from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $83.67.

A number of equities research analysts have commented on INSM shares. Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. HC Wainwright reissued a "buy" rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial restated a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Monday, September 9th.

Insmed Price Performance

Shares of INSM stock traded down $0.42 during mid-day trading on Friday, reaching $71.63. The company's stock had a trading volume of 1,435,486 shares, compared to its average volume of 2,203,438. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm's 50-day moving average is $72.38 and its two-hundred day moving average is $71.16. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a market cap of $12.81 billion, a P/E ratio of -12.91 and a beta of 1.10.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) earnings per share. On average, research analysts predict that Insmed will post -5.44 earnings per share for the current year.

Insider Buying and Selling at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company's stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in Insmed by 447.0% during the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock worth $1,759,000 after purchasing an additional 19,696 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Insmed during the third quarter worth $248,000. Coldstream Capital Management Inc. bought a new position in shares of Insmed in the 3rd quarter valued at $255,000. Geode Capital Management LLC boosted its holdings in shares of Insmed by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company's stock valued at $278,432,000 after acquiring an additional 172,664 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Insmed during the 3rd quarter valued at $218,000.

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.