Insmed Incorporated (NASDAQ:INSM) Given Consensus Rating of “Buy” by Brokerages

Insmed Incorporated (NASDAQ:INSM) has been given an average recommendation of “Buy” by the sixteen brokerages that are covering the stock, Marketbeat reports. Sixteen equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $60.31.

INSM has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Insmed from $49.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Bank of America reissued a “buy” rating and issued a $40.00 price objective on shares of Insmed in a research report on Tuesday, May 28th. StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. UBS Group boosted their price objective on Insmed from $46.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Morgan Stanley boosted their price objective on Insmed from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th.

Insider Transactions at Insmed

In related news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the sale, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William Lewis sold 22,198 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. In the last three months, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Insmed by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 610 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of Insmed by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after acquiring an additional 622 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Insmed by 2.5% in the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 700 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Insmed in the fourth quarter valued at about $25,000. Finally, Diversified Trust Co lifted its position in shares of Insmed by 4.2% in the third quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 792 shares in the last quarter.

Insmed Stock Performance

Shares of INSM stock opened at $64.71 on Friday. The company has a market cap of $9.62 billion, a P/E ratio of -12.37 and a beta of 1.12. The stock has a 50 day simple moving average of $37.46 and a two-hundred day simple moving average of $31.42. Insmed has a fifty-two week low of $19.68 and a fifty-two week high of $66.98.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same period last year, the business posted ($1.17) EPS. The company’s revenue was up 15.8% on a year-over-year basis. On average, research analysts predict that Insmed will post -4.5 earnings per share 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.