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

Shares of Insmed Incorporated (NASDAQ:INSM) have received a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $94.00.

A number of research firms have weighed in on INSM. Bank of America boosted their target price on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Truist Financial lifted their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus lowered their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, February 21st.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 1,066 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the sale, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at $7,573,950.36. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,957 shares of company stock worth $42,992,528. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently modified their holdings of INSM. OneDigital Investment Advisors LLC bought a new position in Insmed during the third quarter valued at approximately $232,000. Natixis Advisors LLC bought a new position in shares of Insmed during the 3rd quarter valued at $1,525,000. Pathstone Holdings LLC raised its position in Insmed by 9.5% in the 3rd quarter. Pathstone Holdings LLC now owns 35,544 shares of the biopharmaceutical company’s stock worth $2,595,000 after purchasing an additional 3,070 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Insmed in the third quarter worth $767,000. Finally, Commerce Bank boosted its position in Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 163 shares during the period.

Insmed Stock Performance

Shares of Insmed stock opened at $77.69 on Friday. The company has a market cap of $14.06 billion, a PE ratio of -13.90 and a beta of 1.28. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed has a 52 week low of $21.92 and a 52 week high of $84.91. The business has a 50 day moving average price of $78.07 and a 200-day moving average price of $73.93.

Insmed (NASDAQ:INSM) last released its quarterly 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). The firm had revenue of $104.44 million for the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Equities analysts anticipate that Insmed will post -4.56 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.