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

Insmed (NASDAQ:INSM) had its target price upped by Wells Fargo & Company from $85.00 to $107.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on INSM. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Guggenheim lifted their price objective on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average price target of $91.00.

Insmed Stock Down 3.0 %

INSM opened at $81.06 on Wednesday. Insmed has a fifty-two week low of $21.92 and a fifty-two week 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. The firm’s fifty day moving average price is $74.29 and its two-hundred day moving average price is $73.59. The company has a market capitalization of $14.50 billion, a P/E ratio of -14.61 and a beta of 1.11.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. On average, analysts anticipate that Insmed will post -5.42 EPS for the current year.

Insider Activity at Insmed

In other Insmed news, CFO Sara Bonstein sold 3,470 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now directly owns 114,736 shares of the company’s stock, valued at approximately $7,538,155.20. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $27,079,091.58. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,207 shares of company stock valued at $41,400,465 over the last ninety days. 4.60% of the stock is owned by insiders.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. grew its position in shares of Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after buying an additional 2,463,261 shares during the period. Norges Bank acquired a new position in shares of Insmed during the 4th quarter worth about $126,606,000. Vanguard Group Inc. grew its position in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after buying an additional 1,075,796 shares during the period. Vestal Point Capital LP grew its position in shares of 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 buying an additional 850,000 shares during the period. Finally, Brown Advisory Inc. acquired a new position in shares of Insmed during the 4th quarter worth about $45,773,000.

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.