Insmed Incorporated (NASDAQ:INSM) Receives Consensus Recommendation of “Buy” from Analysts

Insmed Incorporated (NASDAQ:INSM) has been assigned an average rating of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Seventeen analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $94.63.

INSM has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Stifel Nicolaus lowered their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Bank of America increased their price objective on Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th.

Insider Activity

In other news, insider Michael Alexander Smith sold 409 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.61, for a total value of $26,834.49. Following the sale, the insider now directly owns 91,794 shares in the company, valued at approximately $6,022,604.34. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 8,408 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total value of $570,146.48. Following the completion of the sale, the insider now owns 91,757 shares in the company, valued at approximately $6,222,042.17. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,559 shares of company stock worth $11,056,634. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in shares of Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after acquiring an additional 4,560 shares in the last quarter. Capital CS Group LLC acquired a new stake in Insmed in the fourth quarter valued at $586,000. abrdn plc raised its stake in Insmed by 159.5% in the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock valued at $19,998,000 after buying an additional 178,041 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Insmed in the fourth quarter valued at $2,449,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Insmed by 14.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 37,934 shares of the biopharmaceutical company’s stock valued at $2,619,000 after buying an additional 4,882 shares in the last quarter.

Insmed Price Performance

INSM stock opened at $68.12 on Monday. 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 business has a 50 day simple moving average of $71.57 and a 200-day simple moving average of $73.16. The firm has a market capitalization of $12.41 billion, a PE ratio of -12.19 and a beta of 0.84. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The business had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.06) earnings per share. Equities research 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.