Truist Financial Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Key Points

• Truist Financial raised its price target for Insmed (NASDAQ:INSM) from $126.00 to $139.00, indicating a potential upside of 9.08% from its previous close.
• Multiple brokerages, including UBS and Stifel Nicolaus, have also reaffirmed or increased their buy ratings and price targets for Insmed, reflecting strong market confidence.
• Insmed's latest earnings report revealed a miss in EPS estimates, but a revenue increase of 18.9% year-over-year, with analysts projecting a fiscal year EPS of -4.56.

Insmed (NASDAQ:INSM - Get Free Report) had its target price lifted by Truist Financial from $126.00 to $139.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's price target points to a potential upside of 9.08% from the company's previous close.

A number of other brokerages have also issued reports on INSM. UBS Group restated a "buy" rating and set a $133.00 target price (up from $124.00) on shares of Insmed in a research report on Friday, August 8th. Stifel Nicolaus lifted their price objective on shares of Insmed from $121.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. Leerink Partners lifted their price objective on shares of Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Bank of America lifted their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $129.57.

Insmed Stock Up 3.7%

Shares of INSM traded up $4.56 during mid-day trading on Thursday, hitting $127.43. 2,815,997 shares of the company's stock were exchanged, compared to its average volume of 2,817,862. The company has a market cap of $26.94 billion, a price-to-earnings ratio of -22.20 and a beta of 0.95. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $127.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. The stock's 50-day moving average is $101.43 and its 200-day moving average is $83.19.

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

Insider Activity

In other news, CFO Sara Bonstein sold 58,400 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 73,505 shares of the company's stock, valued at $7,546,758.35. This represents a 44.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 129,805 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the transaction, the chief executive officer directly owned 233,924 shares of the company's stock, valued at approximately $23,483,630.36. This represents a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 527,515 shares of company stock valued at $49,787,158 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently bought and sold shares of the business. Darwin Global Management Ltd. boosted its holdings in Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock worth $894,796,000 after acquiring an additional 2,463,261 shares during the period. Norges Bank purchased a new position in Insmed in the 2nd quarter worth approximately $194,728,000. Adage Capital Partners GP L.L.C. boosted its holdings in Insmed by 109.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock worth $262,967,000 after acquiring an additional 1,799,382 shares during the period. Nuveen LLC purchased a new position in Insmed in the 1st quarter worth approximately $88,351,000. Finally, Qube Research & Technologies Ltd purchased a new position in Insmed in the 2nd quarter worth approximately $108,898,000.

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.

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