Insmed Incorporated (NASDAQ:INSM) Given Average Recommendation of “Buy” by Brokerages

Insmed Incorporated (NASDAQ:INSM) has received an average rating of “Buy” from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $83.67.

Several research analysts recently issued reports on INSM shares. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Finally, Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th.

Insmed Stock Down 0.9 %

Insmed stock opened at $73.15 on Monday. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of -13.18 and a beta of 1.12. The firm’s fifty day moving average price is $72.07 and its two-hundred day moving average price is $65.70. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.10) earnings per share. On average, equities research analysts predict that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC bought a new position in shares of Insmed in the first quarter worth $25,242,000. Kennedy Capital Management LLC purchased a new stake in shares of Insmed in the 1st quarter valued at about $267,000. Russell Investments Group Ltd. boosted its position in shares of Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 21,963 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Insmed during the third quarter worth about $35,322,000. Finally, &PARTNERS bought a new position in shares of Insmed in the second quarter worth approximately $300,000.

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.