Insmed (NASDAQ:INSM) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Insmed (NASDAQ:INSM) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $188.00 price target on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 59.55% from the company’s current price.

A number of other analysts have also issued reports on the stock. UBS Group reiterated a “buy” rating and set a $172.00 price target on shares of Insmed in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Monday, August 10th. Mizuho set a $192.00 target price on shares of Insmed in a report on Tuesday, June 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $175.00 price target on shares of Insmed in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Insmed currently has a consensus rating of “Buy” and a consensus target price of $201.87.

Insmed Trading Down 3.1%

Shares of INSM traded down $3.72 during midday trading on Thursday, hitting $117.83. 2,672,707 shares of the stock were exchanged, compared to its average volume of 2,922,045. Insmed has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. The stock has a fifty day simple moving average of $119.59 and a 200 day simple moving average of $122.28. The firm has a market cap of $25.73 billion, a P/E ratio of -28.67 and a beta of 0.82.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The firm had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. During the same quarter in the prior year, the company earned ($1.70) EPS. Insmed’s revenue was up 296.1% on a year-over-year basis. On average, research analysts anticipate that Insmed will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, COO Roger Adsett sold 239,850 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the transaction, the chief operating officer owned 98,744 shares in the company, valued at $13,159,612.88. The trade was a 70.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 275,549 shares of company stock worth $36,320,872. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the company. Andra AP fonden increased its holdings in Insmed by 55.9% in the second quarter. Andra AP fonden now owns 121,570 shares of the biopharmaceutical company’s stock valued at $12,962,000 after buying an additional 43,600 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Insmed during the 2nd quarter worth about $400,000. C WorldWide Group Holding A S boosted its position in shares of Insmed by 62.1% during the 2nd quarter. C WorldWide Group Holding A S now owns 261,110 shares of the biopharmaceutical company’s stock worth $27,840,000 after acquiring an additional 100,000 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Insmed by 22.3% during the 2nd quarter. NewEdge Advisors LLC now owns 7,354 shares of the biopharmaceutical company’s stock worth $784,000 after acquiring an additional 1,339 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Insmed by 28.5% in the 2nd quarter. IFP Advisors Inc now owns 2,945 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 654 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company’s work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed’s primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.