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

Insmed (NASDAQ:INSM) had its target price boosted by Bank of America from $92.00 to $96.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Insmed in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Guggenheim reiterated a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insmed Trading Up 1.5 %

NASDAQ:INSM opened at $79.92 on Thursday. The company has a market cap of $14.47 billion, a P/E ratio of -14.30 and a beta of 1.28. The stock’s fifty day moving average price is $77.43 and its two-hundred day moving average price is $73.80. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, analysts expect that Insmed will post -4.56 EPS for the current year.

Insider Activity at Insmed

In other 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 of the company’s stock, valued at approximately $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 33,055 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now directly owns 138,053 shares in the company, valued at $11,168,487.70. This trade represents a 19.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 550,957 shares of company stock valued at $42,992,528 over the last 90 days. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI grew its stake in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 147 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 149 shares during the period. Abel Hall LLC boosted its holdings in shares of Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Snowden Capital Advisors LLC boosted its holdings in shares of Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company’s stock worth $456,000 after purchasing an additional 158 shares during the period. Finally, Commerce Bank boosted its holdings in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the period.

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.