Insmed (NASDAQ:INSM) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $105.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also commented on INSM. Bank of America increased their price target on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Wells Fargo & Company increased their price target on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Guggenheim reiterated a “buy” rating and issued a $101.00 price target on shares of Insmed in a research report on Tuesday, February 25th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Monday. Finally, Truist Financial increased their price target on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.63.

Insmed Trading Down 3.0%

Shares of INSM opened at $65.71 on Tuesday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm’s 50-day moving average is $72.17 and its two-hundred day moving average is $73.26. Insmed has a twelve month low of $21.92 and a twelve month high of $84.91. The firm has a market capitalization of $11.95 billion, a P/E ratio of -11.75 and a beta of 0.84.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same quarter in the previous year, the company posted ($1.06) earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts predict that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the sale, the chief executive officer now owns 334,186 shares in the company, valued at approximately $27,079,091.58. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sara Bonstein sold 18,322 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $9,545,887.53. This represents a 13.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,232 shares of company stock worth $6,868,473. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Insmed

Large investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in Insmed by 0.6% during the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after purchasing an additional 4,560 shares during the period. Capital CS Group LLC purchased a new position in Insmed during the fourth quarter worth approximately $586,000. abrdn plc raised its stake in Insmed by 159.5% during the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company’s stock worth $19,998,000 after purchasing an additional 178,041 shares during the period. Moody Aldrich Partners LLC purchased a new position in Insmed during the fourth quarter worth approximately $2,449,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Insmed by 14.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 37,934 shares of the biopharmaceutical company’s stock valued at $2,619,000 after acquiring an additional 4,882 shares during the period.

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.