Wells Fargo & Company Lowers Insmed (NASDAQ:INSM) Price Target to $175.00

Insmed (NASDAQ:INSM) had its price objective dropped by analysts at Wells Fargo & Company from $208.00 to $175.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 21.21% from the company’s current price.

A number of other equities research analysts have also recently weighed in on INSM. Jefferies Financial Group assumed coverage on shares of Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Thursday, January 22nd. Stifel Nicolaus set a $205.00 price target on Insmed in a research note on Thursday, February 19th. The Goldman Sachs Group raised their price objective on Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, TD Cowen set a $241.00 price objective on Insmed in a research note on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $204.00.

Insmed Stock Performance

Shares of Insmed stock opened at $144.38 on Monday. Insmed has a 12 month low of $60.40 and a 12 month high of $212.75. The firm has a market capitalization of $31.12 billion, a P/E ratio of -22.59 and a beta of 1.13. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $151.95 and a two-hundred day simple moving average of $166.26.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. During the same period in the prior year, the company earned ($1.32) earnings per share. The firm’s quarterly revenue was up 152.6% compared to the same quarter last year. On average, equities analysts forecast that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at $51,864,579. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the transaction, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. The trade was a 67.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 189,651 shares of company stock worth $31,533,654. Insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Several institutional investors have recently added to or reduced their stakes in INSM. Cetera Investment Advisers lifted its holdings in shares of Insmed by 52.1% during the second quarter. Cetera Investment Advisers now owns 31,462 shares of the biopharmaceutical company’s stock valued at $3,166,000 after purchasing an additional 10,783 shares in the last quarter. Swiss National Bank increased its holdings in Insmed by 5.5% in the 2nd quarter. Swiss National Bank now owns 347,400 shares of the biopharmaceutical company’s stock worth $34,962,000 after buying an additional 18,100 shares in the last quarter. DNB Asset Management AS purchased a new position in Insmed in the 2nd quarter worth about $208,000. Legal & General Group Plc raised its position in Insmed by 15.3% in the 2nd quarter. Legal & General Group Plc now owns 207,851 shares of the biopharmaceutical company’s stock worth $20,918,000 after buying an additional 27,649 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Insmed during the 2nd quarter valued at about $243,000.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.