Insmed's (INSM) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Insmed and set a $220 price target, implying 118.69% upside from the prior close.
• Analyst sentiment remains broadly positive: Insmed has a consensus “Moderate Buy” rating and an average price target of $200.57, supported by buy or outperform ratings from several firms.
• Insmed reported quarterly revenue of $425.49 million, up 296.1% year over year, and an adjusted EPS loss of $0.06 that beat estimates by $0.61; however, executives recently sold significant portions of their holdings.

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $220.00 target price on the biopharmaceutical company's stock. HC Wainwright's target price points to a potential upside of 118.69% from the stock's previous close.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $175.00 target price on shares of Insmed in a report on Thursday, August 6th. Morgan Stanley reiterated an "overweight" rating and set a $218.00 target price on shares of Insmed in a research report on Friday, August 7th. UBS Group reissued a "buy" rating on shares of Insmed in a report on Thursday. BMO Capital Markets restated an "outperform" rating on shares of Insmed in a research report on Tuesday, October 6th. Finally, Truist Financial restated a "buy" rating and issued a $195.00 price target (up from $185.00) on shares of Insmed in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.57.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $100.60 on Monday. The business's fifty day moving average price is $120.20 and its two-hundred day moving average price is $119.75. Insmed has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of -24.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data 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 firm 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%. The business's revenue for the quarter was up 296.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.70) earnings per share. As a group, analysts predict that Insmed will post -1.84 EPS for the current fiscal year.

Insider Transactions at Insmed

In related 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 transaction, the director owned 39,238 shares in the company, valued at $4,865,512. This represents a 38.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Adsett sold 239,850 shares of the company's 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 transaction, the chief operating officer owned 98,744 shares in the company, valued at approximately $13,159,612.88. This trade represents a 70.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Insmed

Institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its position in shares of Insmed by 1.8% during the 1st quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company's stock valued at $777,000 after acquiring an additional 82 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Insmed by 5.4% in the 1st quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company's stock valued at $313,000 after purchasing an additional 98 shares during the period. Values First Advisors Inc. lifted its stake in shares of Insmed by 7.1% in the 1st quarter. Values First Advisors Inc. now owns 2,203 shares of the biopharmaceutical company's stock valued at $360,000 after purchasing an additional 146 shares during the period. Reflection Asset Management bought a new position in shares of Insmed in the 4th quarter worth $30,000. Finally, American Trust boosted its position in shares of Insmed by 12.9% in the 1st quarter. American Trust now owns 1,710 shares of the biopharmaceutical company's stock worth $280,000 after purchasing an additional 196 shares during 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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