Insmed (NASDAQ:INSM) Price Target Raised to $90.00 at Morgan Stanley

Insmed (NASDAQ:INSM) had its price objective raised by Morgan Stanley from $85.00 to $90.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

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

Insmed Trading Down 0.8 %

Shares of NASDAQ INSM opened at $80.78 on Thursday. Insmed has a 52 week low of $21.92 and a 52 week high of $82.04. The business’s 50 day moving average price is $72.69 and its 200 day moving average price is $73.04. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the transaction, the insider now owns 97,083 shares in the company, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,630 shares of company stock worth $15,913,869. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP increased its holdings in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Insmed in the 3rd quarter valued at $35,322,000. Assenagon Asset Management S.A. grew its holdings in Insmed by 119.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after buying an additional 466,306 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock worth $33,285,000 after acquiring an additional 308,819 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Insmed during the 3rd quarter worth $18,377,000.

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.