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

Key Points

• The Goldman Sachs Group has raised its target price for Insmed (NASDAQ:INSM) from $114.00 to $142.00, suggesting a potential upside of 15.60% from the current price.
• Multiple analysts, including Citigroup and Bank of America, have recently upgraded their ratings on Insmed, with a majority now giving it a "buy" rating.
• Insmed reported a negative earnings per share of ($1.70) in its last earnings report, missing estimates, but showed an 18.9% increase in revenue year-over-year.

Insmed (NASDAQ:INSM - Get Free Report) had its price objective upped by research analysts at The Goldman Sachs Group from $114.00 to $142.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 11.11% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley reissued an "equal weight" rating and issued a $126.00 price objective on shares of Insmed in a research note on Wednesday. HC Wainwright raised their target price on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Jefferies Financial Group raised their target price on shares of Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America raised their target price on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.57.

Insmed Stock Up 0.0%

Shares of NASDAQ INSM traded up $0.05 during midday trading on Wednesday, hitting $127.80. The company's stock had a trading volume of 3,528,446 shares, compared to its average volume of 2,934,935. The business's fifty day simple moving average is $103.62 and its two-hundred day simple moving average is $83.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33. Insmed has a 1 year low of $60.40 and a 1 year high of $128.48. The firm has a market capitalization of $27.01 billion, a price-to-earnings ratio of -22.38 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. During the same period in the previous year, the business posted ($1.94) EPS. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities analysts predict that Insmed will post -4.56 EPS for the current year.

Insider Activity at Insmed

In other Insmed news, CFO Sara Bonstein sold 58,400 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the sale, the chief financial officer owned 73,505 shares of the company's stock, valued at approximately $7,546,758.35. This trade represents a 44.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was 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. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,716 shares of company stock worth $49,665,671 in the last ninety days. Company insiders own 3.00% of the company's stock.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Cullen Frost Bankers Inc. grew its position in shares of Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Insmed during the fourth quarter worth approximately $28,000. ORG Partners LLC grew its position in shares of Insmed by 220.2% during the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 196 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Insmed during the second quarter worth approximately $28,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Insmed during the second quarter worth approximately $33,000.

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.