Insmed Incorporated (NASDAQ:INSM) Receives Consensus Rating of “Buy” from Brokerages

Insmed Incorporated (NASDAQ:INSM) has been assigned a consensus rating of “Buy” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $83.67.

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

Insmed Stock Down 4.6 %

Shares of NASDAQ:INSM opened at $66.62 on Tuesday. The company has a market capitalization of $11.92 billion, a PE ratio of -12.00 and a beta of 1.12. 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 business has a fifty day moving average price of $71.51 and a two-hundred day moving average price of $72.55. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53.

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

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of hedge funds have recently bought and sold shares of INSM. CIBC Asset Management Inc bought a new stake in Insmed in the 2nd quarter worth approximately $287,000. Rhumbline Advisers lifted its position in Insmed by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 236,527 shares of the biopharmaceutical company’s stock worth $15,847,000 after buying an additional 28,865 shares during the last quarter. Victory Capital Management Inc. lifted its position in Insmed by 672.7% in the 2nd quarter. Victory Capital Management Inc. now owns 147,140 shares of the biopharmaceutical company’s stock worth $9,858,000 after buying an additional 128,098 shares during the last quarter. Arizona State Retirement System lifted its position in Insmed by 5.7% in the 2nd quarter. Arizona State Retirement System now owns 39,491 shares of the biopharmaceutical company’s stock worth $2,646,000 after buying an additional 2,140 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in Insmed in the 2nd quarter worth approximately $575,000.

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.