Insmed Incorporated (NASDAQ:INSM) Given Consensus Recommendation of “Buy” by Analysts

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

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

Insmed Trading Down 2.9 %

Insmed stock opened at $72.05 on Friday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $72.40 and a two-hundred day moving average price of $70.82. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of -12.98 and a beta of 1.10. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

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

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The trade was a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insmed

A number of large investors have recently bought and sold shares of INSM. Nisa Investment Advisors LLC raised its holdings in Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 149 shares in the last quarter. CWM LLC raised its stake in shares of Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares during the period. Commerce Bank raised its stake in shares of Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period.

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.