Insmed (NASDAQ:INSM) Price Target Raised to $119.00 at Wells Fargo & Company

Insmed (NASDAQ:INSM - Free Report) had its price objective raised by Wells Fargo & Company from $107.00 to $119.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

Several other analysts have also recently commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a research note on Tuesday. HC Wainwright raised their price target on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday. Stifel Nicolaus dropped their price target on shares of Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 21st. UBS Group lowered their price target on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Leerink Partners upped their target price on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday. One analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, Insmed currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.81.

Insmed Trading Down 0.6%

INSM traded down $0.59 during mid-day trading on Wednesday, hitting $97.39. 4,062,552 shares of the stock were exchanged, compared to its average volume of 2,158,807. The firm's fifty day moving average is $70.16 and its two-hundred day moving average is $73.31. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed has a 1-year low of $60.40 and a 1-year high of $99.84. The company has a market cap of $17.74 billion, a PE ratio of -17.42 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) 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 company had revenue of $92.82 million during the quarter, compared to analyst estimates of $91.63 million. During the same quarter in the prior year, the company earned ($1.06) EPS. The business's revenue was up 22.9% on a year-over-year basis. Equities analysts forecast that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 1,879 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the transaction, the insider now owns 67,718 shares in the company, valued at approximately $4,977,273. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. The trade was a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,994 shares of company stock worth $11,320,938 over the last 90 days. Insiders own 3.00% of the company's stock.

Institutional Trading of Insmed

Large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its position in Insmed by 164.9% during the 1st 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 bought a new position in Insmed during the 4th quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 163 shares in the last quarter. NBC Securities Inc. purchased a new stake in Insmed during the 1st quarter valued at $49,000. Finally, V Square Quantitative Management LLC raised its position in Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the last quarter.

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.