Wells Fargo & Company Boosts Insmed (NASDAQ:INSM) Price Target to $130.00

Insmed (NASDAQ:INSM - Get Free Report) had its price target boosted by equities research analysts at Wells Fargo & Company from $119.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's price objective suggests a potential upside of 25.50% from the company's previous close.

INSM has been the subject of a number of other research reports. Citigroup raised shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. UBS Group lowered their target price on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Mizuho raised their price target on Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Jefferies Financial Group restated a "buy" rating on shares of Insmed in a research report on Tuesday, June 10th. Finally, Bank of America increased their target price on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.20.

Insmed Stock Up 0.1%

INSM traded up $0.07 during trading on Tuesday, hitting $103.59. The company had a trading volume of 762,292 shares, compared to its average volume of 2,756,446. Insmed has a 1-year low of $60.40 and a 1-year high of $106.83. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The company has a market cap of $19.65 billion, a PE ratio of -17.41 and a beta of 0.90. The business has a 50-day moving average of $89.86 and a 200-day moving average of $79.45.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). The firm had revenue of $92.82 million during the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted ($1.06) earnings per share. As a group, analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 6,830 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the sale, the chief executive officer directly owned 233,924 shares in the company, valued at approximately $23,946,799.88. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 606,597 shares of company stock valued at $55,120,762 in the last ninety days. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the stock. LRI Investments LLC acquired a new position in Insmed in the 2nd quarter worth about $59,000. IFP Advisors Inc grew its stake in shares of Insmed by 29.5% in the 2nd quarter. IFP Advisors Inc now owns 2,423 shares of the biopharmaceutical company's stock valued at $244,000 after buying an additional 552 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in Insmed in the second quarter worth approximately $873,000. KLP Kapitalforvaltning AS increased its holdings in Insmed by 10.5% in the second quarter. KLP Kapitalforvaltning AS now owns 37,800 shares of the biopharmaceutical company's stock worth $3,804,000 after buying an additional 3,600 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in Insmed during the second quarter valued at approximately $173,000.

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.