Insmed (NASDAQ:INSM) Price Target Raised to $97.00 at Stifel Nicolaus

Insmed (NASDAQ:INSM) had its price objective boosted by Stifel Nicolaus from $88.00 to $97.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on the company. 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. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Guggenheim raised their price objective on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley raised their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average price target of $85.60.

Insmed Stock Up 2.3 %

NASDAQ INSM opened at $79.89 on Tuesday. 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 stock has a market capitalization of $14.29 billion, a PE ratio of -14.39 and a beta of 1.11. Insmed has a 1 year low of $21.92 and a 1 year high of $82.04. The business’s 50-day moving average is $73.00 and its 200 day moving average is $73.12.

Insider Buying and Selling

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.64, for a total transaction of $392,786.08. Following the completion of the transaction, the insider now owns 101,549 shares of the company’s stock, valued at approximately $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 401,030 shares of company stock worth $30,993,629 in the last three months. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp bought a new stake in Insmed in the 2nd quarter worth approximately $413,000. GAMMA Investing LLC grew its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. Exchange Traded Concepts LLC grew its position in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Creative Planning grew its position in Insmed by 31.2% in the 3rd quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after purchasing an additional 10,668 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Insmed in the 3rd quarter worth approximately $30,000.

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.