Shares of Insmed, Inc. (NASDAQ:INSM – Get Free Report) have earned an average recommendation of “Buy” from the twenty-five analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $200.57.
A number of equities analysts have recently issued reports on INSM shares. HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Monday, August 10th. Mizuho set a $192.00 target price on Insmed in a report on Tuesday, June 16th. BMO Capital Markets assumed coverage on shares of Insmed in a research report on Monday, July 20th. They set an “outperform” rating and a $192.00 target price for the company. Truist Financial restated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Finally, The Goldman Sachs Group started coverage on shares of Insmed in a research report on Thursday, September 24th. They issued a “buy” rating and a $188.00 price target on the stock.
View Our Latest Stock Report on INSM
Insmed Stock Performance
Insmed (NASDAQ:INSM – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.61. The business had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.Insmed’s revenue for the quarter was up 296.1% compared to the same quarter last year. During the same period last year, the company earned ($1.70) EPS. Sell-side analysts forecast that Insmed will post -1.84 EPS for the current year.
Insider Transactions at Insmed
In other Insmed news, COO Roger Adsett sold 239,850 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the sale, the chief operating officer directly owned 98,744 shares in the company, valued at approximately $13,159,612.88. This trade represents a 70.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David R. Brennan sold 25,000 shares of Insmed stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the transaction, the director directly owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. This trade represents a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 275,549 shares of company stock worth $36,320,872 over the last three months. 2.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Insmed
Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Insmed by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock worth $751,936,000 after purchasing an additional 539,625 shares in the last quarter. Norges Bank bought a new stake in shares of Insmed in the 4th quarter valued at $506,625,000. Franklin Resources Inc. lifted its position in shares of Insmed by 28.8% during the 4th quarter. Franklin Resources Inc. now owns 2,755,536 shares of the biopharmaceutical company’s stock valued at $479,573,000 after acquiring an additional 615,811 shares during the period. Sei Investments Co. lifted its position in shares of Insmed by 56.8% during the 1st quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock valued at $228,239,000 after acquiring an additional 505,624 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Insmed by 22.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,390,042 shares of the biopharmaceutical company’s stock worth $241,923,000 after acquiring an additional 251,141 shares in the last quarter.
Insmed Company Profile
Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious and rare diseases. The company’s research and development activities center on pulmonary and inflammatory conditions, with an emphasis on diseases that have limited treatment options.
Insmed’s principal commercial product is ARIKAYCE liposomal, an inhaled formulation of amikacin used with a combination antibacterial regimen to treat refractory Mycobacterium avium complex lung disease in certain adult patients.
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