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

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

Several brokerages have weighed in on INSM. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. 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 report on Friday, November 22nd. Truist Financial reiterated 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. Finally, Bank of America increased their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th.

Insider Activity

In related news, CEO William Lewis sold 2,978 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the transaction, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.64, for a total transaction of $392,786.08. Following the completion of the transaction, the insider now directly owns 101,549 shares in the company, valued at approximately $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,094 shares of company stock valued at $4,733,986. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc bought a new position in Insmed during the second quarter worth about $287,000. Rhumbline Advisers grew its holdings in Insmed by 13.9% during the second quarter. Rhumbline Advisers now owns 236,527 shares of the biopharmaceutical company’s stock valued at $15,847,000 after purchasing an additional 28,865 shares during the period. Victory Capital Management Inc. increased its stake in Insmed by 672.7% in the second quarter. Victory Capital Management Inc. now owns 147,140 shares of the biopharmaceutical company’s stock valued at $9,858,000 after purchasing an additional 128,098 shares in the last quarter. Arizona State Retirement System raised its holdings in Insmed by 5.7% in the second quarter. Arizona State Retirement System now owns 39,491 shares of the biopharmaceutical company’s stock worth $2,646,000 after purchasing an additional 2,140 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Insmed during the second quarter worth $575,000.

Insmed Price Performance

Shares of INSM stock opened at $65.25 on Tuesday. 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 stock’s fifty day simple moving average is $71.23 and its 200 day simple moving average is $72.44. Insmed has a one year low of $21.92 and a one year high of $80.53. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.10) earnings per share. On average, analysts expect that Insmed will post -5.44 earnings per share for the current fiscal year.

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.