Wells Fargo & Company Boosts Insmed (NASDAQ:INSM) Price Target to $107.00

Insmed (NASDAQ:INSM) had its target price hoisted by Wells Fargo & Company from $85.00 to $107.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 27.98% from the stock’s current price.

Several other research firms have also recently commented on INSM. Guggenheim increased their target price on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Stifel Nicolaus increased their target price on Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.86.

Insmed Stock Down 0.3 %

NASDAQ INSM opened at $83.61 on Wednesday. The stock has a market cap of $14.96 billion, a PE ratio of -15.06 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.28. The business has a 50 day moving average price of $74.11 and a two-hundred day moving average price of $73.52. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). As a group, sell-side analysts predict that Insmed will post -5.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the completion of the sale, the chief executive officer now owns 334,186 shares in the company, valued at approximately $27,079,091.58. This represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 6,172 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares in the company, valued at approximately $6,462,578.36. This represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock valued at $41,400,465 over the last three months. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently modified their holdings of the company. Elequin Capital LP acquired a new position in Insmed in the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC boosted its holdings in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 163 shares during the period. V Square Quantitative Management LLC grew its position in shares of Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in shares of Insmed in the fourth quarter worth about $47,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Insmed by 522.5% during 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 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.