The Goldman Sachs Group Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM - Free Report) had its target price hoisted by The Goldman Sachs Group from $100.00 to $112.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company's stock.

INSM has been the subject of several other reports. Truist Financial upped their target price on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Guggenheim restated a "buy" rating and set a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Bank of America boosted their price target on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday. Mizuho increased their price objective on Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $104.81.

Insmed Stock Performance

INSM traded up $7.05 during trading hours on Wednesday, hitting $97.98. The stock had a trading volume of 12,740,774 shares, compared to its average volume of 2,150,294. 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 stock has a market cap of $17.85 billion, a PE ratio of -17.53 and a beta of 0.80. Insmed has a 1 year low of $60.40 and a 1 year high of $98.88. The company's fifty day simple moving average is $70.16 and its 200 day simple moving average is $73.31.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the prior year, the firm earned ($1.06) earnings per share. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 409 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.61, for a total value of $26,834.49. Following the sale, the insider now directly owns 91,794 shares of the company's stock, valued at approximately $6,022,604.34. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Lewis sold 21,057 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $67.65, for a total transaction of $1,424,506.05. Following the sale, the chief executive officer now directly owns 314,230 shares in the company, valued at approximately $21,257,659.50. The trade was a 6.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,994 shares of company stock worth $11,320,938 over the last three months. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after buying an additional 147 shares during the period. M&T Bank Corp lifted its position in Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock worth $252,000 after buying an additional 147 shares in the last quarter. Snowden Capital Advisors LLC raised its position in Insmed by 2.5% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after purchasing an additional 158 shares during the period. Steward Partners Investment Advisory LLC raised 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 valued at $29,000 after buying an additional 163 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Insmed by 3.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company's stock worth $446,000 after purchasing an additional 186 shares during the period.

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.