Insmed Incorporated (NASDAQ:INSM) Receives $83.07 Average Price Target from Brokerages

Shares of Insmed Incorporated (NASDAQ:INSM) have been given an average recommendation of “Buy” by the sixteen brokerages that are covering the company, MarketBeat reports. Sixteen analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $83.07.

A number of research firms recently commented on INSM. TD Cowen boosted their price target on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Stifel Nicolaus boosted their price target on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last ninety days. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Large investors have recently modified their holdings of the company. Coldstream Capital Management Inc. purchased a new stake in Insmed in the 3rd quarter valued at $255,000. Geode Capital Management LLC raised its position in Insmed by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after buying an additional 172,664 shares during the last quarter. M&T Bank Corp purchased a new stake in Insmed in the 3rd quarter valued at $218,000. Abel Hall LLC purchased a new stake in Insmed in the 3rd quarter valued at $232,000. Finally, MML Investors Services LLC increased its position in shares of Insmed by 36.2% during the 3rd quarter. MML Investors Services LLC now owns 22,201 shares of the biopharmaceutical company’s stock valued at $1,621,000 after purchasing an additional 5,897 shares during the last quarter.

Insmed Trading Down 1.4 %

Shares of Insmed stock opened at $72.67 on Monday. The firm has a 50-day moving average of $72.07 and a 200-day moving average of $65.60. The stock has a market cap of $13.00 billion, a PE ratio of -13.09 and a beta of 1.12. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) earnings per share. As a group, sell-side analysts forecast that Insmed will post -5.42 EPS for the current year.

About Insmed

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.