Insmed (NASDAQ:INSM) Price Target Raised to $237.00
by Amy Steele · The Cerbat GemInsmed (NASDAQ:INSM – Free Report) had its target price upped by Barclays from $231.00 to $237.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.
Several other brokerages have also commented on INSM. Citigroup restated an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. TD Cowen set a $241.00 price objective on shares of Insmed in a research note on Thursday, December 18th. HC Wainwright boosted their price objective on shares of Insmed from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Wolfe Research set a $167.00 target price on shares of Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Guggenheim reduced their price target on shares of Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $212.67.
View Our Latest Analysis on INSM
Insmed Stock Performance
NASDAQ INSM opened at $162.43 on Wednesday. The firm’s fifty day moving average is $150.30 and its two-hundred day moving average is $166.51. Insmed has a one year low of $60.40 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The firm has a market cap of $35.01 billion, a PE ratio of -25.34 and a beta of 1.10.
Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The company had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business’s quarterly revenue was up 152.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.32) EPS. Analysts expect that Insmed will post -4.56 earnings per share for the current year.
Insider Transactions at Insmed
In other Insmed news, COO Roger Adsett sold 88,060 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at $17,584,130.30. This represents a 45.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at $51,864,579. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 210,059 shares of company stock valued at $33,702,709. Corporate insiders own 3.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC lifted its position in Insmed by 8,052.6% in the 4th quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock valued at $21,493,000 after purchasing an additional 121,755 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Insmed by 88.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 16,775 shares of the biopharmaceutical company’s stock valued at $2,920,000 after acquiring an additional 7,863 shares in the last quarter. Corient Private Wealth LLC boosted its position in Insmed by 34.1% during the 4th quarter. Corient Private Wealth LLC now owns 20,865 shares of the biopharmaceutical company’s stock worth $3,631,000 after acquiring an additional 5,305 shares during the period. Keenan LLC acquired a new position in Insmed during the 4th quarter worth $369,000. Finally, Reflection Asset Management bought a new position in shares of Insmed in the fourth quarter worth $30,000.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.
The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.