Insmed (NASDAQ:INSM) Receives “Buy” Rating from HC Wainwright

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

A number of other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Stifel Nicolaus upped their price target on shares of Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Stock Performance

Shares of INSM stock opened at $81.06 on Friday. Insmed has a 12 month low of $21.92 and a 12 month high of $84.91. The firm’s 50 day moving average is $74.29 and its 200 day moving average is $73.59. 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 stock has a market capitalization of $14.50 billion, a P/E ratio of -14.61 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. On average, sell-side analysts anticipate that Insmed will post -5.42 earnings per share for the current year.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 1,066 shares of Insmed stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the transaction, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at $7,573,950.36. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of the company’s 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 completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock worth $41,400,465 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently made changes to their positions in INSM. Jennison Associates LLC boosted its holdings in Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares in the last quarter. Capital CS Group LLC bought a new position in Insmed in the 4th quarter worth about $586,000. Orion Portfolio Solutions LLC boosted its stake in Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC grew its position in Insmed by 16.9% during the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after purchasing an additional 21,833 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in Insmed during the 3rd quarter valued at about $35,322,000.

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.