Insmed (NASDAQ:INSM) Price Target Cut to $96.00 by Analysts at Stifel Nicolaus

Insmed (NASDAQ:INSM) had its target price lowered by equities researchers at Stifel Nicolaus from $97.00 to $96.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 13.85% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Guggenheim lifted 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. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday. One investment analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.79.

Insmed Price Performance

NASDAQ:INSM opened at $84.32 on Friday. The company has a market capitalization of $15.08 billion, a P/E ratio of -15.24 and a beta of 1.11. Insmed has a 52 week low of $21.92 and a 52 week high of $84.72. The stock’s fifty day moving average is $74.11 and its two-hundred day moving average is $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 announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities analysts expect that Insmed will post -5.42 EPS for the current year.

Insider Activity at Insmed

In other news, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara Bonstein sold 18,322 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the completion of the sale, the chief financial officer now owns 118,863 shares in the company, valued at approximately $9,545,887.53. This trade represents a 13.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,207 shares of company stock worth $41,400,465 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds have recently made changes to their positions in the company. Darwin Global Management Ltd. raised its position in Insmed by 23.5% during the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after buying an additional 2,463,261 shares during the period. Norges Bank purchased a new position in Insmed during the 4th quarter valued at about $126,606,000. Vanguard Group Inc. boosted its holdings in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the period. Vestal Point Capital LP increased its stake in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after buying an additional 850,000 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Insmed during the 4th quarter valued at $45,773,000.

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.