Insmed (NASDAQ:INSM) Hits New 52-Week High – Should You Buy?

Insmed Incorporated (NASDAQ:INSM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.04 and last traded at $81.24, with a volume of 601359 shares changing hands. The stock had previously closed at $79.31.

Analysts Set New Price Targets

Several research firms have commented on INSM. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Guggenheim raised their price target on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley lifted their price target on 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 fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

Insmed Stock Up 2.6 %

The company has a market cap of $14.56 billion, a PE ratio of -14.66 and a beta of 1.11. The business has a fifty day simple moving average of $73.51 and a two-hundred day simple moving average of $73.31. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insider Buying and Selling

In other news, CFO Sara Bonstein sold 13,302 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,064,160.00. Following the transaction, the chief financial officer now directly owns 142,204 shares in the company, valued at $11,376,320. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 495,135 shares of company stock worth $38,409,713. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI raised its stake in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 147 shares during the period. CIBC Asset Management Inc lifted its holdings in Insmed by 3.5% in the third 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 during the last quarter. Abel Hall LLC grew its position in Insmed by 4.7% in the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 151 shares during the period. Snowden Capital Advisors LLC increased its stake in Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company’s stock worth $456,000 after acquiring an additional 158 shares during the last quarter. Finally, Commerce Bank increased its stake in Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the last quarter.

Insmed Company Profile

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.