Morgan Stanley Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its target price boosted by equities researchers at Morgan Stanley from $85.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would indicate a potential upside of 12.57% from the company’s current price.

Other analysts have also issued research reports about the company. Bank of America upped their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Insmed Trading Down 1.0 %

Shares of INSM stock opened at $79.95 on Thursday. The stock has a market capitalization of $14.30 billion, a P/E ratio of -14.41 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $82.04. 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 company has a 50 day moving average price of $72.79 and a 200 day moving average price of $73.10.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the transaction, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 401,030 shares of company stock worth $30,993,629 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares during the period. Principal Financial Group Inc. raised its stake in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after acquiring an additional 214,130 shares during the last quarter. Vestal Point Capital LP lifted its position in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Insmed by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,546,607 shares of the biopharmaceutical company’s stock valued at $106,778,000 after purchasing an additional 102,341 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Insmed by 2.6% in the third quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock valued at $70,260,000 after purchasing an additional 24,025 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.