Insmed (NASDAQ:INSM) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Insmed (NASDAQ:INSM) in a research report report published on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $100.00 price target on the biopharmaceutical company’s stock.

INSM has been the topic of several other research reports. Guggenheim lifted their target price on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus cut their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, February 21st. Truist Financial lifted their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their price target on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.60.

Insmed Trading Up 1.2 %

Shares of INSM stock opened at $79.05 on Tuesday. The company has a market cap of $14.31 billion, a P/E ratio of -14.14 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The stock has a 50 day simple moving average of $74.66 and a two-hundred day simple moving average of $73.73. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Research analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Transactions at Insmed

In other news, CEO William Lewis sold 18,750 shares of Insmed 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 transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the sale, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock worth $41,400,465 in the last quarter. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of Insmed by 12.5% during the 4th quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 1,213 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Insmed in the 4th quarter worth about $259,000. Fourth Dimension Wealth LLC purchased a new position in Insmed during the 4th quarter worth $278,000. Vise Technologies Inc. raised its holdings in shares of Insmed by 6.3% in the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock valued at $389,000 after acquiring an additional 336 shares in the last quarter. Finally, Castleark Management LLC raised its holdings in shares of Insmed by 21.9% in the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock valued at $3,644,000 after purchasing an additional 9,480 shares in the last quarter.

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.