Bank of America Securities Reaffirms Their Buy Rating on Insmed (INSM)

In a report released yesterday, Jason Zemansky from Bank of America Securities reiterated a Buy rating on Insmed, with a price target of $211.00. The company’s shares closed yesterday at $161.00.

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According to TipRanks, Zemansky is a 5-star analyst with an average return of 18.6% and a 56.37% success rate. Zemansky covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Insmed, and Cytokinetics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Insmed with a $217.71 average price target, which is a 35.22% upside from current levels. In a report released today, Wells Fargo also maintained a Buy rating on the stock with a $208.00 price target.

Based on Insmed’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $142.34 million and a GAAP net loss of $370.02 million. In comparison, last year the company earned a revenue of $93.43 million and had a GAAP net loss of $220.52 million

Based on the recent corporate insider activity of 133 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INSM in relation to earlier this year. Earlier this month, Sara Bonstein, the CFO of INSM sold 748.00 shares for a total of $116,942.32.