Insmed (NASDAQ:INSM) Given New $107.00 Price Target at Wells Fargo & Company

Insmed (NASDAQ:INSM - Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $85.00 to $107.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price would indicate a potential upside of 32.00% from the stock's previous close.

A number of other research firms have also recently issued reports on INSM. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their target price on Insmed from $88.00 to $97.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Guggenheim boosted their price target on Insmed from $95.00 to $101.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price target on Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and an average target price of $91.00.

Insmed Trading Down 3.0 %

Shares of Insmed stock traded down $2.55 during trading on Wednesday, reaching $81.06. 2,695,737 shares of the company were exchanged, compared to its average volume of 1,916,036. 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 twelve month low of $21.92 and a twelve month high of $84.91. The business has a 50-day moving average price of $74.11 and a 200-day moving average price of $73.52. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11.

Insmed (NASDAQ:INSM - Get Free Report) last posted 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 business had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. Sell-side analysts anticipate that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,912,553.60. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara Bonstein sold 18,322 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total value of $1,471,439.82. Following the completion of the sale, the chief financial officer now owns 118,863 shares in the company, valued at $9,545,887.53. This represents a 13.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 532,207 shares of company stock worth $41,400,465. Corporate insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in shares of Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after purchasing an additional 4,560 shares during the last quarter. Capital CS Group LLC bought a new position in shares of Insmed in the 4th quarter valued at $586,000. Orion Portfolio Solutions LLC increased its stake in shares of Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company's stock valued at $2,050,000 after purchasing an additional 9,170 shares during the last quarter. Ally Bridge Group NY LLC increased its stake in shares of Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company's stock valued at $11,011,000 after purchasing an additional 21,833 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in shares of Insmed in the 3rd quarter valued at $35,322,000.

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.