Insmed Incorporated (NASDAQ:INSM) Given Average Recommendation of “Buy” by Brokerages

Insmed Incorporated (NASDAQ:INSM) has been given a consensus recommendation of “Buy” by the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $91.60.

Several equities research analysts have recently weighed in on INSM shares. Royal Bank of Canada started coverage on shares of Insmed in a research report on Tuesday. They issued an “outperform” rating and a $100.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their target price on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th.

Insider Activity at Insmed

In related news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This represents a 4.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 33,055 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the sale, the insider now directly owns 138,053 shares of the company’s stock, valued at approximately $11,168,487.70. This represents a 19.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 532,207 shares of company stock valued at $41,400,465. Corporate 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. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Insmed by 29.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,215 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 1,402 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Insmed by 88.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,350 shares of the biopharmaceutical company’s stock worth $245,000 after acquiring an additional 1,572 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Insmed by 74.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 33,052 shares of the biopharmaceutical company’s stock worth $2,413,000 after acquiring an additional 14,110 shares during the last quarter. US Bancorp DE grew its holdings in Insmed by 55.3% during the 3rd quarter. US Bancorp DE now owns 7,932 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 2,824 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in Insmed during the 3rd quarter worth about $1,291,000.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $77.50 on Wednesday. Insmed has a 12 month low of $21.92 and a 12 month high of $84.91. The company has a 50-day simple moving average of $74.43 and a 200-day simple moving average of $73.67. 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 $13.86 billion, a PE ratio of -13.86 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. On average, equities analysts anticipate that Insmed will post -4.56 earnings per share for the current 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.