Guggenheim Increases Insmed (NASDAQ:INSM) Price Target to $101.00

Insmed (NASDAQ:INSM) had its target price increased by stock analysts at Guggenheim from $95.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price target suggests a potential upside of 26.88% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, Morgan Stanley increased their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.40.

Insmed Stock Down 1.5 %

INSM stock traded down $1.18 during midday trading on Friday, hitting $79.60. 662,605 shares of the company’s stock were exchanged, compared to its average volume of 1,915,237. The firm has a 50 day moving average price of $72.79 and a 200-day moving average price of $73.10. Insmed has a 12-month low of $21.92 and a 12-month high of $82.04. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of -14.34 and a beta of 1.11. 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 Transactions at Insmed

In other news, CFO Sara Bonstein sold 3,470 shares of Insmed 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 transaction, the chief financial officer now owns 114,736 shares in the company, valued at $7,538,155.20. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.36, for a total transaction of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares in the company, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 214,630 shares of company stock worth $15,913,869. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several large investors have recently made changes to their positions in INSM. CIBC Asset Management Inc raised its stake in shares of Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the period. Abel Hall LLC raised its position in Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 151 shares during the last quarter. Commerce Bank lifted its stake in Insmed by 2.4% in the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after acquiring an additional 163 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 166 shares in the last quarter.

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.