Insmed Incorporated (NASDAQ:INSM) Receives Consensus Rating of “Buy” from Analysts

Insmed Incorporated (NASDAQ:INSM) has been given an average recommendation of “Buy” by the sixteen analysts that are covering the stock, Marketbeat reports. Sixteen investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $83.67.

Several equities research analysts have issued reports on INSM shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of institutional investors have recently modified their holdings of INSM. CIBC Asset Management Inc acquired a new position in shares of Insmed during the second quarter worth approximately $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 worth $15,847,000 after buying an additional 28,865 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Insmed by 672.7% during the second quarter. Victory Capital Management Inc. now owns 147,140 shares of the biopharmaceutical company’s stock worth $9,858,000 after buying an additional 128,098 shares in the last quarter. Arizona State Retirement System grew its holdings in Insmed by 5.7% during the second quarter. Arizona State Retirement System now owns 39,491 shares of the biopharmaceutical company’s stock worth $2,646,000 after buying an additional 2,140 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Insmed during the second quarter worth $575,000.

Insmed Stock Performance

Shares of INSM stock opened at $66.62 on Tuesday. The company has a market capitalization of $11.92 billion, a P/E ratio of -12.00 and a beta of 1.12. The company’s 50 day moving average price is $71.51 and its two-hundred day moving average price is $72.55. Insmed has a 52 week low of $21.92 and a 52 week high of $80.53. 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 issued its quarterly 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 the consensus estimate of $93.36 million. During the same period in the prior year, the company earned ($1.10) earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. 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.