Research analysts at HC Wainwright began coverage on shares of Insmed (NASDAQ:INSM – Get Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $220.00 price target on the biopharmaceutical company’s stock. HC Wainwright‘s target price would suggest a potential upside of 110.65% from the company’s previous close.
INSM has been the topic of several other research reports. Stifel Nicolaus set a $195.00 target price on shares of Insmed in a research note on Thursday, October 29th. Mizuho set a $154.00 price target on shares of Insmed in a research note on Thursday, October 29th. JPMorgan Chase & Co. decreased their price objective on shares of Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Morgan Stanley decreased their price objective on shares of Insmed from $218.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Insmed in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.52.
Get Our Latest Report on Insmed
Insmed Price Performance
INSM stock opened at $104.44 on Wednesday. The stock’s 50 day simple moving average is $111.94 and its 200 day simple moving average is $125.12. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77. Insmed has a 12-month low of $90.39 and a 12-month high of $212.75.
Insmed (NASDAQ:INSM – Get Free Report) last posted its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). The business had revenue of $524.43 million during the quarter, compared to the consensus estimate of $500.36 million. Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. The firm’s revenue for the quarter was up 268.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.75) EPS. Research analysts expect that Insmed will post -1.77 earnings per share for the current fiscal year.
Insider Transactions at Insmed
In other news, Director David Brennan sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the sale, the director owned 39,238 shares of the company’s stock, valued at $4,865,512. This represents a 38.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer owned 98,744 shares in the company, valued at $13,159,612.88. This trade represents a 70.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. C WorldWide Group Holding A S grew its position in shares of Insmed by 62.1% during the 2nd quarter. C WorldWide Group Holding A S now owns 261,110 shares of the biopharmaceutical company’s stock valued at $27,840,000 after acquiring an additional 100,000 shares during the period. Empowered Funds LLC increased its stake in shares of Insmed by 32.6% in the 1st quarter. Empowered Funds LLC now owns 51,986 shares of the biopharmaceutical company’s stock worth $8,501,000 after purchasing an additional 12,775 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Insmed by 8,052.6% in the 4th quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock worth $21,493,000 after purchasing an additional 121,755 shares during the period. S&CO Inc. purchased a new position in Insmed during the second quarter valued at $1,386,000. Finally, Nykredit A S purchased a new position in Insmed during the second quarter valued at $10,997,000.
About Insmed
Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company concentrates on conditions with significant unmet medical needs, particularly in pulmonary and infectious diseases.
Insmed’s lead commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy used in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.
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