Cantor Fitzgerald Reiterates “Overweight” Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports.

Several other equities research analysts have also recently issued reports on INSM. Guggenheim raised their price objective on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus raised their price objective on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.86.

Insmed Price Performance

Shares of NASDAQ INSM opened at $83.61 on Wednesday. The firm has a 50-day simple moving average of $74.11 and a 200-day simple moving average of $73.52. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of -15.06 and a beta of 1.11. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed has a 52 week low of $21.92 and a 52 week high of $84.28.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). On average, equities analysts predict that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total value of $1,471,439.82. Following the completion of the transaction, the chief financial officer now owns 118,863 shares in the company, valued at $9,545,887.53. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lewis sold 18,750 shares of Insmed 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 completion of the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 532,207 shares of company stock worth $41,400,465 over the last 90 days. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares during the last quarter. Capital CS Group LLC acquired a new stake in Insmed during the fourth quarter worth approximately $586,000. Orion Portfolio Solutions LLC raised its holdings in Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC raised its holdings in Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in Insmed during the third quarter worth approximately $35,322,000.

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.