Insmed (NASDAQ:INSM) Rating Reiterated by Cantor Fitzgerald

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

Several other equities analysts also recently issued reports on INSM. Evercore ISI upped their price objective on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. UBS Group raised their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley lifted their price target on Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. increased their price objective on Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Truist Financial cut their target price on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.19.

Insmed Price Performance

INSM stock opened at $71.57 on Monday. The business has a 50 day moving average price of $73.96 and a 200 day moving average price of $49.34. 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 stock has a market cap of $12.30 billion, a price-to-earnings ratio of -13.74 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the prior year, the firm posted ($1.78) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maven Securities LTD purchased a new position in shares of Insmed during the second quarter valued at approximately $335,000. Clearbridge Investments LLC lifted its position in Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after buying an additional 714,539 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in Insmed in the 2nd quarter worth about $630,000. Truist Financial Corp purchased a new stake in Insmed in the 2nd quarter valued at about $413,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Insmed during the 2nd quarter valued at about $12,060,000.

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.