Royal Bank of Canada Reaffirms Outperform Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $100.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 26.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group lifted their target price on shares of Insmed from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Truist Financial lifted their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus lowered their target price on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Guggenheim restated a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Finally, Morgan Stanley lifted their target price on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insmed Trading Down 0.2 %

NASDAQ:INSM opened at $78.77 on Wednesday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed has a 12 month low of $21.92 and a 12 month high of $84.91. The company has a market cap of $14.26 billion, a PE ratio of -14.09 and a beta of 1.28. The company has a 50 day simple moving average of $77.14 and a two-hundred day simple moving average of $73.77.

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

Insider Activity

In other news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. This represents a 4.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.64, for a total transaction of $392,786.08. Following the sale, the insider now owns 101,549 shares in the company, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,957 shares of company stock worth $42,992,528. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Insmed during the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC grew its holdings in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in Insmed during the 4th quarter valued at about $47,000. Finally, Smartleaf Asset Management LLC grew its holdings in Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 411 shares during 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.