Guggenheim Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its price objective lifted by Guggenheim from $95.00 to $101.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Insmed Stock Down 1.0 %

Shares of NASDAQ:INSM opened at $79.95 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock’s 50-day moving average price is $72.79 and its two-hundred day moving average price is $73.10. Insmed has a 12-month low of $21.92 and a 12-month high of $82.04.

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,674,149.50. Following the completion of the transaction, the insider now directly owns 138,053 shares in the company, valued at $11,168,487.70. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,030 shares of company stock worth $30,993,629. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Insmed

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc increased its stake in shares of Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the period. Abel Hall LLC raised its stake in Insmed by 4.7% during the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock valued at $230,000 after acquiring an additional 151 shares in the last quarter. Commerce Bank boosted its position in Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the period. Steward Partners Investment Advisory LLC grew 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 purchasing an additional 163 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Insmed by 5.6% during the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 166 shares during the period.

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.