Insmed (NASDAQ:INSM) Given New $106.00 Price Target at Royal Bank of Canada

Insmed (NASDAQ:INSM) had its price target hoisted by Royal Bank of Canada from $99.00 to $106.00 in a research report report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on the company. Wells Fargo & Company increased their price objective on Insmed from $107.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating on shares of Insmed in a report on Tuesday. Guggenheim reiterated a “buy” rating and set a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Bank of America boosted their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, UBS Group decreased their target price on shares of Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.81.

Insmed Stock Performance

NASDAQ:INSM opened at $98.73 on Wednesday. The firm’s fifty day simple moving average is $70.73 and its 200-day simple moving average is $73.47. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market cap of $17.98 billion, a PE ratio of -17.66 and a beta of 0.80. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $100.00.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The firm had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.06) earnings per share. Analysts expect that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 4,407 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total transaction of $298,838.67. Following the transaction, the insider now owns 92,203 shares in the company, valued at approximately $6,252,285.43. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 319,932 shares of company stock worth $25,733,693. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its holdings in Insmed by 9.7% in the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 147 shares during the period. M&T Bank Corp raised its position in shares of Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 147 shares during the last quarter. Snowden Capital Advisors LLC raised its position 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 valued at $456,000 after buying an additional 158 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Insmed by 3.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock worth $446,000 after buying an additional 186 shares in the last quarter.

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.