Insmed (NASDAQ:INSM) Price Target Raised to $107.00 at Wells Fargo & Company

Insmed (NASDAQ:INSM) had its price objective raised by Wells Fargo & Company from $85.00 to $107.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also issued reports on INSM. Stifel Nicolaus increased their price target on Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley increased their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.86.

Insmed Stock Performance

Shares of INSM stock opened at $83.83 on Wednesday. The business has a 50 day simple moving average of $73.87 and a 200 day simple moving average of $73.45. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of -15.10 and a beta of 1.11. Insmed has a 12-month low of $21.92 and a 12-month high of $83.89.

Insider Activity

In other news, CFO Sara Bonstein sold 13,302 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $80.00, for a total value of $1,064,160.00. Following the completion of the sale, the chief financial officer now owns 142,204 shares in the company, valued at $11,376,320. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 495,135 shares of company stock worth $38,409,713 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Insmed during the fourth quarter worth $259,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Insmed during the fourth quarter worth $278,000. Vise Technologies Inc. raised its holdings in shares of Insmed by 6.3% during the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock worth $389,000 after acquiring an additional 336 shares in the last quarter. Castleark Management LLC raised its holdings in shares of Insmed by 21.9% during the fourth quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock worth $3,644,000 after acquiring an additional 9,480 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Insmed during the fourth quarter worth $28,000.

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.