Brokerages Set Insmed Incorporated (NASDAQ:INSM) Price Target at $83.67

Insmed Incorporated (NASDAQ:INSM) has earned an average rating of “Buy” from the sixteen analysts that are covering the firm, MarketBeat reports. Sixteen equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $83.67.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.

Insider Transactions at Insmed

In related news, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,885,606.40. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 214,630 shares of company stock worth $15,913,869 in the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the third quarter worth $30,000. GAMMA Investing LLC increased its position in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the period. Spire Wealth Management purchased a new stake in shares of Insmed during the fourth quarter worth $47,000. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 411 shares during the period.

Insmed Trading Up 0.5 %

Shares of Insmed stock opened at $81.44 on Friday. The firm has a market capitalization of $14.57 billion, a PE ratio of -14.67 and a beta of 1.11. Insmed has a twelve month low of $21.92 and a twelve month high of $81.96. The firm’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.

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.