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

Insmed Incorporated (NASDAQ:INSM) has been assigned a consensus recommendation of “Buy” from the sixteen research firms that are covering the company, MarketBeat reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $81.40.

INSM has been the topic of a number of recent research reports. Bank of America reiterated a “buy” rating and set a $83.00 price objective on shares of Insmed in a research note on Friday, July 5th. Truist Financial reduced their price target on Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Thursday, August 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 10th.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds have recently made changes to their positions in INSM. EntryPoint Capital LLC purchased a new stake in shares of Insmed during the 1st quarter valued at approximately $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Insmed during the first quarter valued at about $34,000. First Horizon Advisors Inc. raised its stake in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Insmed in the 1st quarter valued at approximately $59,000. Finally, CWM LLC lifted its stake in Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter.

Insmed Stock Performance

Insmed stock opened at $72.48 on Friday. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The firm has a market capitalization of $10.77 billion, a P/E ratio of -13.86 and a beta of 1.11. The company’s 50-day moving average is $74.29 and its 200 day moving average is $53.43.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. Insmed’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.78) earnings per share. Research analysts forecast that Insmed will post -5.42 EPS 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.