Insmed (NASDAQ:INSM) Hits New 1-Year High – Here’s Why

Insmed Incorporated (NASDAQ:INSM) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $82.04 and last traded at $81.24, with a volume of 601359 shares changing hands. The stock had previously closed at $79.31.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Finally, Guggenheim lifted their price objective on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Insmed Stock Up 2.6 %

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 company has a market cap of $14.56 billion, a PE ratio of -14.66 and a beta of 1.11. The business’s 50 day moving average is $73.51 and its 200-day moving average is $73.31.

Insider Transactions at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the completion of the sale, the insider now owns 97,083 shares in the company, valued at $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 495,135 shares of company stock valued at $38,409,713. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several large investors have recently bought and sold shares of the stock. Elequin Capital LP acquired a new stake in shares of Insmed during the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in Insmed in the third quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 163 shares during the period. Spire Wealth Management purchased a new position in shares of Insmed during the fourth quarter worth approximately $47,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 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.