Insmed (NASDAQ:INSM) Given New $241.00 Price Target at TD Cowen

by · The Markets Daily

Insmed (NASDAQ:INSM – Get Free Report) had its price target reduced by investment analysts at TD Cowen from $269.00 to $241.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective points to a potential upside of 44.51% from the stock’s previous close.

A number of other brokerages have also recently commented on INSM. Redburn Partners set a $263.00 target price on Insmed in a report on Thursday, December 4th. Morgan Stanley upped their price objective on shares of Insmed from $126.00 to $144.00 and gave the company an “equal weight” rating in a research note on Thursday, August 21st. Mizuho set a $212.00 target price on shares of Insmed in a research note on Thursday. Rothschild & Co Redburn began coverage on shares of Insmed in a research note on Thursday, December 4th. They issued a “buy” rating and a $263.00 price target for the company. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Insmed in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus target price of $202.55.

Check Out Our Latest Stock Analysis on INSM

Insmed Stock Down 16.0%

Shares of NASDAQ INSM traded down $31.69 during mid-day trading on Thursday, hitting $166.77. 6,858,296 shares of the stock traded hands, compared to its average volume of 2,694,783. Insmed has a 52 week low of $60.40 and a 52 week high of $212.75. The stock has a fifty day moving average price of $187.37 and a 200-day moving average price of $142.14. The company has a market cap of $35.57 billion, a price-to-earnings ratio of -26.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63.

Insmed (NASDAQ:INSM – Get Free Report) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The firm had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. During the same period in the prior year, the company posted ($1.27) earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. Research analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insider Transactions at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,130 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.78, for a total value of $4,985,951.40. Following the transaction, the insider directly owned 54,902 shares in the company, valued at $10,089,889.56. This represents a 33.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $194.00, for a total value of $5,820,000.00. Following the transaction, the insider directly owned 36,461 shares in the company, valued at $7,073,434. This represents a 45.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 147,130 shares of company stock valued at $28,480,051 over the last three months. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its stake in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Insmed during the 3rd quarter valued at about $29,000. SBI Securities Co. Ltd. grew its stake in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 81 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Insmed by 169.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 151 shares during the last quarter.

About Insmed

(Get Free Report)

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.

Featured Stories