Insmed Incorporated (NASDAQ:INSM) Given Average Recommendation of “Buy” by Brokerages

Insmed Incorporated (NASDAQ:INSM) has been assigned a consensus rating of “Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Sixteen research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $83.67.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st.

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara Bonstein sold 3,470 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the sale, the chief financial officer now directly owns 114,736 shares in the company, valued at $7,538,155.20. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,094 shares of company stock valued at $4,733,986. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Insmed in the 2nd quarter valued at approximately $237,076,000. Principal Financial Group Inc. lifted its holdings in shares of Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after acquiring an additional 214,130 shares during the period. Clearbridge Investments LLC boosted its position in shares of Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after acquiring an additional 714,539 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $65.25 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The stock’s 50-day moving average is $71.23 and its 200-day moving average is $72.44. Insmed has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same period in the prior year, the company earned ($1.10) earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts predict that Insmed will post -5.44 earnings per share for the current fiscal year.

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.