Insmed (NASDAQ:INSM) Given New $102.00 Price Target at Morgan Stanley

Insmed (NASDAQ:INSM - Get Free Report) had its price objective hoisted by research analysts at Morgan Stanley from $90.00 to $102.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. Morgan Stanley's price objective indicates a potential upside of 5.17% from the stock's previous close.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. Truist Financial lifted their target price on Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, February 21st. UBS Group reduced their price target on shares of Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wells Fargo & Company boosted their target price on Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Bank of America raised their price target on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $104.81.

Insmed Stock Down 1.0%

Shares of NASDAQ:INSM traded down $0.99 during midday trading on Wednesday, hitting $96.99. 4,960,055 shares of the company's stock were exchanged, compared to its average volume of 2,162,406. The company has a market cap of $17.67 billion, a PE ratio of -17.35 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed has a 12 month low of $60.40 and a 12 month high of $99.84. The stock has a 50 day moving average price of $70.16 and a 200-day moving average price of $73.31.

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

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 409 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $65.61, for a total transaction of $26,834.49. Following the transaction, the insider now owns 91,794 shares in the company, valued at approximately $6,022,604.34. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the transaction, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. 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 162,994 shares of company stock worth $11,320,938 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. increased its stake in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Insmed during the fourth quarter worth about $28,000. Steward Partners Investment Advisory LLC raised its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 163 shares during the period. V Square Quantitative Management LLC grew its holdings in 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 buying an additional 248 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Insmed during the first quarter valued at approximately $49,000.

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.