Insmed (NASDAQ:INSM) Stock Picked Up by Analysts at HC Wainwright

Analysts at HC Wainwright assumed coverage on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $220.00 price target on the biopharmaceutical company’s stock. HC Wainwright‘s target price suggests a potential upside of 110.65% from the stock’s current price.

A number of other brokerages have also recently weighed in on INSM. Truist Financial reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Raymond James Financial set a $173.00 target price on Insmed in a research note on Tuesday, October 20th. Wolfe Research cut shares of Insmed from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 12th. Bank of America reissued a “buy” rating and set a $207.00 price target on shares of Insmed in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $196.52.

Insmed Stock Down 4.5%

NASDAQ INSM opened at $104.44 on Wednesday. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77. Insmed has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a fifty day moving average of $111.94 and a 200-day moving average of $125.12.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). Insmed had a negative net margin of 39.85% and a negative return on equity of 96.38%. The firm had revenue of $524.43 million for the quarter, compared to analysts’ expectations of $500.36 million. During the same quarter in the previous year, the business earned ($1.75) EPS. The company’s revenue for the quarter was up 268.4% on a year-over-year basis. On average, research analysts forecast that Insmed will post -1.77 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, Director David Brennan sold 25,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares in the company, valued at $4,865,512. This represents a 38.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Roger Adsett sold 239,850 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer owned 98,744 shares in the company, valued at approximately $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in Insmed by 44.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,757,541 shares of the biopharmaceutical company’s stock valued at $200,845,000 after buying an additional 537,188 shares in the last quarter. Sei Investments Co. raised its stake in Insmed by 56.8% during the first quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock valued at $228,239,000 after buying an additional 505,624 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Insmed in the second quarter worth $139,966,000. Assenagon Asset Management S.A. boosted its holdings in Insmed by 480.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,788 shares of the biopharmaceutical company’s stock worth $144,591,000 after acquiring an additional 1,048,518 shares in the last quarter. Finally, NWI Management LP grew its stake in shares of Insmed by 2.6% in the first quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company’s stock worth $165,809,000 after acquiring an additional 25,540 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company concentrates on conditions with significant unmet medical needs, particularly in pulmonary and infectious diseases.

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