Insmed (NASDAQ:INSM) Price Target Raised to $112.00 at The Goldman Sachs Group

Insmed (NASDAQ:INSM) had its price target lifted by The Goldman Sachs Group from $100.00 to $112.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 15.61% from the stock’s previous close.

Several other equities analysts have also weighed in on INSM. UBS Group dropped their price objective on shares of Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus reduced their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company increased their target price on shares of Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup upgraded shares of Insmed to a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of Insmed from $99.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company. According to MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $104.81.

Insmed Stock Performance

NASDAQ INSM opened at $96.88 on Wednesday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average price is $70.73 and its two-hundred day moving average price is $73.47. Insmed has a 1 year low of $60.40 and a 1 year high of $100.00. The firm has a market capitalization of $17.65 billion, a P/E ratio of -17.33 and a beta of 0.80.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Insmed’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) earnings per share. As a group, research analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the sale, the insider now directly owns 89,407 shares of the company’s stock, valued at $8,352,401.94. This represents a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,742,347.58. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,166 shares of company stock valued at $20,585,587. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Insmed

A number of institutional investors and hedge funds have recently modified their holdings of the company. Darwin Global Management Ltd. raised its stake in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Norges Bank bought a new position in shares of Insmed in the fourth quarter worth approximately $126,606,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Insmed by 109.2% in the first 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 purchasing an additional 1,799,382 shares during the last quarter. Nuveen LLC bought a new stake in Insmed in the first quarter valued at $88,351,000. Finally, Vanguard Group Inc. boosted its holdings in Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter.

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.