Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Insmed (NASDAQ:INSM) had its price objective hoisted by Wells Fargo & Company from $85.00 to $107.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 31.51% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Stifel Nicolaus upped their price target on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley upped their price target on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Finally, Guggenheim upped their price target on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $90.86.

Insmed Trading Up 2.6 %

NASDAQ:INSM opened at $81.36 on Wednesday. The company has a market cap of $14.56 billion, a P/E ratio of -14.66 and a beta of 1.11. The stock’s fifty day moving average price is $73.51 and its two-hundred day moving average price is $73.31. Insmed has a 1 year low of $21.92 and a 1 year high of $82.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 6,172 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the transaction, the insider now directly owns 101,549 shares in the company, valued at $6,462,578.36. This trade represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 495,135 shares of company stock worth $38,409,713. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in shares of Insmed during the 4th quarter worth $259,000. Fourth Dimension Wealth LLC bought a new position in shares of Insmed during the 4th quarter worth $278,000. Vise Technologies Inc. grew its position in shares of Insmed by 6.3% during the 4th quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 336 shares in the last quarter. Castleark Management LLC grew its position in shares of Insmed by 21.9% during the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock worth $3,644,000 after buying an additional 9,480 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Insmed during the 4th quarter worth $28,000.

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.