Insmed (NASDAQ:INSM) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Insmed (NASDAQ:INSM) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $90.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on INSM. TD Cowen boosted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Guggenheim increased their price target on Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group lifted their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insmed Price Performance

Insmed stock traded up $1.04 during mid-day trading on Friday, hitting $68.32. The stock had a trading volume of 1,617,227 shares, compared to its average volume of 2,277,338. Insmed has a one year low of $21.92 and a one year high of $80.53. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. The firm has a market capitalization of $11.74 billion, a P/E ratio of -12.68 and a beta of 1.11. The firm’s 50 day moving average is $73.03 and its 200 day moving average is $61.26.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same period in the prior year, the company earned ($1.10) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts forecast that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its holdings in shares of Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 135 shares during the last quarter. CWM LLC increased its holdings in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 155 shares during the period. GAMMA Investing LLC increased its holdings in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Insmed by 1.4% during the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock worth $1,697,000 after purchasing an additional 314 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.