Analysts Set Insmed Incorporated (NASDAQ:INSM) Price Target at $83.07

Insmed Incorporated (NASDAQ:INSM - Get Free Report) has received a consensus rating of "Buy" from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $83.07.

INSM has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. UBS Group raised their price objective on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price objective on Insmed from $74.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Bank of America raised their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research note on Monday, September 9th.

Insmed Stock Performance

NASDAQ INSM traded down $0.43 during trading hours on Monday, reaching $65.86. 751,157 shares of the company were exchanged, compared to its average volume of 2,245,031. The stock has a market capitalization of $11.78 billion, a P/E ratio of -11.84 and a beta of 1.12. 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 business's 50 day simple moving average is $72.13 and its 200-day simple moving average is $64.97. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.10) earnings per share. On average, equities research analysts expect that Insmed will post -5.42 earnings per share for the current year.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares of the company's stock, valued at $7,951,559.28. The trade was a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Insmed

A number of institutional investors have recently added to or reduced their stakes in INSM. Darwin Global Management Ltd. acquired a new stake in Insmed during the second quarter worth about $237,076,000. Capital International Investors bought a new position in shares of Insmed in the first quarter valued at approximately $43,973,000. Clearbridge Investments LLC bought a new position in shares of Insmed in the first quarter valued at approximately $25,242,000. Vestal Point Capital LP boosted its holdings in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock worth $116,800,000 after buying an additional 850,000 shares in the last quarter. Finally, Fiera Capital Corp acquired a new position in Insmed in the second quarter worth approximately $40,570,000.

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.