Insmed Incorporated (NASDAQ:INSM) Given Average Rating of “Buy” by Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Sixteen analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $83.67.

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

Insmed Stock Down 2.9 %

Shares of NASDAQ INSM opened at $72.05 on Friday. Insmed has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of -12.98 and a beta of 1.10. The business has a 50-day moving average of $72.40 and a 200-day moving average of $70.82.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) 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 analyst estimates of $93.36 million. Insmed’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) earnings per share. Sell-side analysts expect that Insmed will post -5.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in shares of 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 buying an additional 135 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 149 shares during the period. CWM LLC raised its holdings in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares during the period. Commerce Bank raised its holdings in Insmed by 2.4% in the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period.

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.