Bank of America Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM - Free Report) had its target price boosted by Bank of America from $94.00 to $109.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company's stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group restated a "buy" rating on shares of Insmed in a research note on Tuesday. Wells Fargo & Company raised their target price on Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price objective on shares of Insmed in a research note on Wednesday, March 19th. Guggenheim reaffirmed a "buy" rating and set a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Finally, Leerink Partners increased their target price on shares of Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $104.81.

Insmed Trading Up 1.3%

Insmed stock traded up $1.22 during trading on Wednesday, reaching $98.10. 523,814 shares of the company were exchanged, compared to its average volume of 2,159,960. 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 stock's 50 day simple moving average is $70.73 and its two-hundred day simple moving average is $73.47. The company has a market capitalization of $17.87 billion, a P/E ratio of -17.50 and a beta of 0.80. Insmed has a 52-week low of $60.40 and a 52-week high of $100.00.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period last year, the business earned ($1.06) EPS. Insmed's revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Alexander Smith sold 4,407 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total value of $298,838.67. Following the transaction, the insider now owns 92,203 shares of the company's stock, valued at approximately $6,252,285.43. This trade represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sara Bonstein sold 57,766 shares of Insmed stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $89.12, for a total transaction of $5,148,105.92. Following the transaction, the chief financial officer now directly owns 103,412 shares in the company, valued at approximately $9,216,077.44. This represents a 35.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 319,932 shares of company stock valued at $25,733,693 over the last ninety days. 3.00% of the stock is owned by company insiders.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its position in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 221 shares in the last quarter. Elequin Capital LP bought a new stake in Insmed during the fourth quarter worth about $28,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Insmed during the 1st quarter valued at about $49,000.

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.