Royal Bank of Canada Reiterates Outperform Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $100.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential upside of 26.95% from the company’s previous close.

INSM has been the subject of several other research reports. Morgan Stanley upped their price target on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. UBS Group upped their price target on shares of Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Insmed Price Performance

Shares of INSM stock opened at $78.77 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a market capitalization of $14.26 billion, a P/E ratio of -14.09 and a beta of 1.28. The company’s 50-day simple moving average is $77.14 and its two-hundred day simple moving average is $73.77. Insmed has a one year low of $21.92 and a one year high of $84.91.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, equities analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total value of $1,444,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares of the company’s stock, valued at approximately $25,742,347.58. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 3,470 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the transaction, the chief financial officer now directly owns 114,736 shares of the company’s stock, valued at approximately $7,538,155.20. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 550,957 shares of company stock valued at $42,992,528. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in INSM. Atria Investments Inc increased its stake in shares of Insmed by 61.7% in the third quarter. Atria Investments Inc now owns 4,985 shares of the biopharmaceutical company’s stock worth $364,000 after acquiring an additional 1,902 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Insmed in the third quarter worth $376,000. KBC Group NV increased its stake in shares of Insmed by 20.4% in the third quarter. KBC Group NV now owns 4,310 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 730 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Insmed in the third quarter worth $232,000. Finally, CIBC Asset Management Inc increased its stake in shares of Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 149 shares during the period.

About Insmed

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.