Insmed (NASDAQ:INSM) Hits New 52-Week High – Still a Buy?

Insmed Incorporated (NASDAQ:INSM)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $81.25 and last traded at $81.01, with a volume of 1762349 shares changing hands. The stock had previously closed at $77.88.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and set a $90.00 target price 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 $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insmed Price Performance

The firm has a market cap of $14.49 billion, a P/E ratio of -14.60 and a beta of 1.11. 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 stock’s 50-day simple moving average is $72.58 and its two-hundred day simple moving average is $72.99.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the transaction, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares in the company, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,880 shares of company stock valued at $14,452,494 in the last ninety days. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Insmed by 4.7% during the 3rd 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. Principal Financial Group Inc. lifted its stake in Insmed by 12.9% in the third 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. Vestal Point Capital LP grew its holdings in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Insmed by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock valued at $105,431,000 after purchasing an additional 137,670 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Insmed by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock valued at $70,260,000 after purchasing an additional 24,025 shares in the last quarter.

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.