Insmed’s (INSM) Buy Rating Reaffirmed at Guggenheim

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by Guggenheim in a report issued on Friday,Benzinga reports. They currently have a $207.00 price target on the biopharmaceutical company’s stock. Guggenheim’s price target would indicate a potential upside of 75.04% from the stock’s current price.

INSM has been the topic of several other reports. Truist Financial lowered their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, June 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Insmed Trading Up 1.5%

NASDAQ:INSM opened at $118.26 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $25.63 billion, a PE ratio of -20.57 and a beta of 0.78. The firm’s 50 day moving average is $107.60 and its 200 day moving average is $138.43. Insmed has a 12 month low of $90.39 and a 12 month high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period in the prior year, the company earned ($1.42) earnings per share. Insmed’s revenue was up 229.7% compared to the same quarter last year. Sell-side analysts expect that Insmed will post -2.55 earnings per share for the current 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 on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 54,590 shares of company stock worth $6,078,011. 2.10% of the stock is owned by insiders.

Institutional Trading of Insmed

A number of institutional investors have recently added to or reduced their stakes in INSM. CoreCap Advisors LLC purchased a new position in Insmed during the 4th quarter valued at about $27,000. Reflection Asset Management purchased a new stake in shares of Insmed in the fourth quarter worth about $30,000. GraniteShares Advisors LLC bought a new position in shares of Insmed in the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its position in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in Insmed during the fourth quarter valued at approximately $32,000.

Insmed Company Profile

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.