Insmed (NASDAQ:INSM) Given New $101.00 Price Target at Guggenheim

Insmed (NASDAQ:INSM) had its price target boosted by Guggenheim from $95.00 to $101.00 in a report issued on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also commented on INSM. Truist Financial reissued 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. Morgan Stanley raised their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insmed Trading Down 1.0 %

NASDAQ:INSM opened at $79.95 on Friday. Insmed has a 12 month low of $21.92 and a 12 month high of $82.04. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of -14.41 and a beta of 1.11. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company’s 50 day moving average is $72.88 and its 200-day moving average is $73.09.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the transaction, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 401,030 shares of company stock worth $30,993,629. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Large investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position in Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after buying an additional 4,560 shares during the period. Capital CS Group LLC acquired a new stake in Insmed in the fourth quarter valued at about $586,000. Orion Portfolio Solutions LLC boosted its stake in Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after buying an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC raised its position in Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after purchasing an additional 21,833 shares during the last quarter. Finally, Vestal Point Capital LP raised its position in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares during the last quarter.

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.