Guggenheim Lowers Insmed (NASDAQ:INSM) Price Target to $221.00

Insmed (NASDAQ:INSM) had its target price reduced by equities researchers at Guggenheim from $230.00 to $221.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s target price would indicate a potential upside of 11.36% from the company’s current price.

INSM has been the subject of a number of other research reports. William Blair assumed coverage on shares of Insmed in a research report on Wednesday, August 20th. They set an “outperform” rating for the company. Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an “outperform” rating in a report on Thursday. Cowen restated a “buy” rating on shares of Insmed in a research report on Wednesday, December 10th. Redburn Partners set a $263.00 price target on Insmed in a report on Thursday, December 4th. Finally, Mizuho boosted their price objective on Insmed from $196.00 to $256.00 and gave the stock an “outperform” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.70.

Insmed Trading Down 1.1%

Shares of INSM opened at $198.46 on Thursday. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. The stock has a market cap of $42.33 billion, a PE ratio of -32.06 and a beta of 1.01. Insmed has a 1 year low of $60.40 and a 1 year high of $212.75. The stock has a 50 day simple moving average of $187.37 and a 200-day simple moving average of $142.14.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The company had revenue of $142.34 million during the quarter, compared to the consensus estimate of $114.33 million. During the same quarter last year, the company earned ($1.27) earnings per share. The business’s revenue was up 52.4% on a year-over-year basis. On average, sell-side analysts predict that Insmed will post -4.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 30,000 shares of Insmed stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $194.00, for a total value of $5,820,000.00. Following the completion of the sale, the insider directly owned 36,461 shares of the company’s stock, valued at approximately $7,073,434. This trade represents a 45.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 27,130 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $183.78, for a total value of $4,985,951.40. Following the sale, the insider owned 54,902 shares of the company’s stock, valued at approximately $10,089,889.56. The trade was a 33.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,130 shares of company stock valued at $28,480,051 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CTC Alternative Strategies Ltd. acquired a new stake in shares of Insmed during the 3rd quarter worth approximately $410,000. Allworth Financial LP boosted its stake in Insmed by 70.0% in the third quarter. Allworth Financial LP now owns 527 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 217 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Insmed by 83.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,716 shares of the biopharmaceutical company’s stock worth $1,255,000 after acquiring an additional 3,973 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Insmed during the 3rd quarter valued at $523,000.

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.