Insmed Incorporated (NASDAQ:INSM) Receives $83.67 Average Price Target from Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been given an average rating of “Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Sixteen analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $83.67.

INSM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the completion of the sale, the insider now owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. This represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 31,805 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the sale, the chief executive officer now owns 379,534 shares of the company’s stock, valued at approximately $26,635,696.12. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,880 shares of company stock worth $14,452,494. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INSM. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its position in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Insmed during the fourth quarter valued at approximately $47,000. Exchange Traded Concepts LLC lifted its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Insmed during the 4th quarter valued at $86,000.

Insmed Trading Up 1.7 %

NASDAQ INSM opened at $77.88 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed has a 12 month low of $21.92 and a 12 month high of $80.63. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of -14.03 and a beta of 1.11. The firm’s fifty day moving average price is $72.40 and its 200 day moving average price is $72.93.

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.