Insmed (NASDAQ:INSM) Upgraded to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Insmed (NASDAQ:INSM) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Bank of America upped their target price on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Barclays increased their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Mizuho set a $192.00 price target on Insmed in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Buy” and an average target price of $209.13.

Insmed Price Performance

INSM stock opened at $108.62 on Monday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. Insmed has a 52-week low of $90.39 and a 52-week high of $212.75. The stock’s 50 day moving average is $105.64 and its two-hundred day moving average is $134.69. The company has a market capitalization of $23.54 billion, a PE ratio of -18.89 and a beta of 0.78.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.42) EPS. Analysts predict that Insmed will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total value of $173,050.92. Following the transaction, the insider directly owned 37,648 shares in the company, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the completion of the transaction, the chief executive officer directly owned 259,058 shares of the company’s stock, valued at $30,413,409.20. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,590 shares of company stock worth $5,793,738 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. iA Global Asset Management Inc. boosted its holdings in shares of Insmed by 15,973.5% during the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after acquiring an additional 26,516 shares during the period. Monashee Investment Management LLC acquired a new stake in shares of Insmed in the 4th quarter worth about $8,702,000. Nordea Investment Management AB acquired a new stake in shares of Insmed in the 4th quarter worth about $3,492,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Insmed by 89.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,308 shares of the biopharmaceutical company’s stock valued at $17,981,000 after purchasing an additional 48,779 shares during the last quarter. Finally, Aberdeen Group plc lifted its position in Insmed by 7.9% in the 4th quarter. Aberdeen Group plc now owns 253,112 shares of the biopharmaceutical company’s stock valued at $44,052,000 after purchasing an additional 18,490 shares during the last quarter.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.