Insmed (NASDAQ:INSM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Insmed (NASDAQ:INSM) in a research note released on Friday, Benzinga reports. They currently have a $90.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also commented on INSM. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price target on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Guggenheim upped their target price on Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Truist Financial raised their price target on Insmed from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.07.

Insmed Stock Performance

Insmed stock opened at $68.32 on Friday. The company’s 50-day moving average price is $73.03 and its 200-day moving average price is $61.76. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The company has a market cap of $11.74 billion, a PE ratio of -12.31 and a beta of 1.12. Insmed has a twelve month low of $21.92 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data 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 business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. Insmed’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.10) earnings per share. On average, equities research analysts forecast that Insmed will post -5.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INSM. Nisa Investment Advisors LLC grew its holdings in Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the last quarter. CWM LLC increased its position in Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares in the last quarter. GAMMA Investing LLC raised its stake in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in Insmed by 1.4% in the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock worth $1,697,000 after acquiring an additional 314 shares in the last quarter.

Insmed Company Profile

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.