Insmed (NASDAQ:INSM) Hits New 12-Month High on Analyst Upgrade

Shares of Insmed Incorporated (NASDAQ:INSM) hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $100.00 to $112.00. The Goldman Sachs Group currently has a buy rating on the stock. Insmed traded as high as $91.86 and last traded at $90.02, with a volume of 5726166 shares traded. The stock had previously closed at $70.68.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company upped their price objective on Insmed from $107.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday. Leerink Partners boosted their target price on shares of Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday. HC Wainwright increased their target price on shares of Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho lifted their price target on shares of Insmed from $96.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group decreased their price objective on shares of Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company. According to MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $104.81.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total value of $1,444,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,742,347.58. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Clarissa Desjardins acquired 1,895 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $66.87 per share, with a total value of $126,718.65. Following the transaction, the director now owns 1,895 shares in the company, valued at $126,718.65. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 162,994 shares of company stock worth $11,320,938. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Insmed by 8.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company’s stock valued at $29,590,000 after buying an additional 32,960 shares during the period. Principal Securities Inc. boosted its stake in Insmed by 55.5% in the 4th quarter. Principal Securities Inc. now owns 3,139 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 1,120 shares during the period. M&T Bank Corp increased its holdings in Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 166 shares in the last quarter. Truist Financial Corp raised its stake in shares of Insmed by 3.4% in the 4th quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company’s stock valued at $2,074,000 after purchasing an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Insmed by 98.1% in the fourth 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 in the last quarter.

Insmed Stock Performance

The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a fifty day moving average of $70.16 and a 200-day moving average of $73.31. The firm has a market capitalization of $17.85 billion, a P/E ratio of -17.53 and a beta of 0.80.

Insmed (NASDAQ:INSM) last announced 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). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the previous year, the business earned ($1.06) EPS. Insmed’s revenue was up 22.9% on a year-over-year basis. On average, research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

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.