Insmed (NASDAQ:INSM) Hits New 1-Year High – Should You Buy?

Insmed Incorporated (NASDAQ:INSM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $80.63 and last traded at $77.64, with a volume of 466415 shares trading hands. The stock had previously closed at $78.00.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INSM shares. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America boosted 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Stock Down 1.3 %

The business’s 50 day moving average is $72.28 and its 200 day moving average is $72.97. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of -13.84 and a beta of 1.12.

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

Insider Activity at Insmed

In other news, CFO Sara Bonstein sold 3,470 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.70, for a total value of $227,979.00. Following the completion of the sale, the chief financial officer now owns 114,736 shares in the company, valued at $7,538,155.20. This represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,885,606.40. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,740 shares of company stock worth $7,161,294 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Insmed during the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the last quarter. Spire Wealth Management bought a new position in shares of Insmed during the 4th quarter worth $47,000. Exchange Traded Concepts LLC grew its position in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares in the last quarter. Finally, JCIC Asset Management Inc. purchased a new position in Insmed in the third quarter valued at about $133,000.

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.