Insmed (NASDAQ:INSM) Given New $231.00 Price Target at TD Cowen

Insmed (NASDAQ:INSM) had its price target raised by TD Cowen from $223.00 to $231.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on INSM. Royal Bank Of Canada raised their target price on Insmed from $139.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $111.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group increased their target price on Insmed from $129.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Bank of America upped their price target on Insmed from $142.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, Wells Fargo & Company raised their target price on Insmed from $171.00 to $217.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Nineteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.53.

Insmed Stock Down 0.3%

Shares of Insmed stock traded down $0.64 on Thursday, reaching $199.01. The stock had a trading volume of 229,816 shares, compared to its average volume of 2,622,950. Insmed has a 1 year low of $60.40 and a 1 year high of $208.00. The company has a 50 day moving average price of $166.68 and a 200 day moving average price of $123.91. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $42.44 billion, a P/E ratio of -34.74 and a beta of 1.05.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $114.33 million. During the same quarter last year, the firm earned ($1.27) earnings per share. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Insmed will post -4.56 EPS for the current year.

Insider Activity

In related news, Director Melvin Md Sharoky sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the transaction, the director owned 262,675 shares of the company’s stock, valued at $38,190,318.25. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Alexander Smith sold 27,130 shares of Insmed stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.78, for a total value of $4,985,951.40. Following the completion of the transaction, the insider owned 54,902 shares in the company, valued at $10,089,889.56. This trade represents a 33.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 252,922 shares of company stock worth $43,533,383 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Insmed in the 1st quarter valued at approximately $975,000. Chung Wu Investment Group LLC acquired a new position in Insmed during the second quarter worth $173,000. Caxton Associates LLP purchased a new position in Insmed in the first quarter worth $441,000. Assenagon Asset Management S.A. lifted its holdings in Insmed by 84.5% in the second quarter. Assenagon Asset Management S.A. now owns 73,404 shares of the biopharmaceutical company’s stock valued at $7,387,000 after acquiring an additional 33,626 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Insmed in the second quarter valued at $5,578,000.

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.