Insmed, Inc. (NASDAQ:INSM) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Insmed holds a consensus “Buy” rating from 25 brokerages, with 22 buy ratings, two strong-buy ratings and one sell rating. The average 12-month price target is $205.52, well above the reported share price of $118.54.
• The company reported quarterly adjusted earnings of $(0.06) per share, beating expectations of $(0.67), while revenue reached $425.49 million—up 296.1% year over year and above analyst estimates.
• Insiders sold approximately $37.1 million worth of shares in the last quarter, while several major institutional investors increased their holdings, including California State Teachers’ Retirement System, which expanded its position substantially.

Insmed, Inc. (NASDAQ:INSM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the twenty-five brokerages that are covering the company, MarketBeat reports. One 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 1-year price target among brokers that have issued a report on the stock in the last year is $205.5217.

INSM has been the topic of a number of research reports. Jefferies Financial Group reissued a "buy" rating and issued a $175.00 target price on shares of Insmed in a research note on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and issued a $172.00 price target on shares of Insmed in a report on Friday, August 7th. HC Wainwright reiterated a "buy" rating on shares of Insmed in a research report on Monday, August 10th. Evercore reissued an "outperform" rating and set a $170.00 price objective on shares of Insmed in a research note on Friday, August 7th. Finally, Truist Financial reissued a "buy" rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a research note on Monday, August 10th.

Insmed Price Performance

Shares of NASDAQ INSM opened at $118.54 on Monday. The firm has a 50-day simple moving average of $113.64 and a 200-day simple moving average of $125.88. The stock has a market capitalization of $25.89 billion, a price-to-earnings ratio of -28.84 and a beta of 0.81. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm had revenue of $425.49 million for the quarter, compared to the consensus estimate of $395.50 million. During the same period last year, the firm posted ($1.70) earnings per share. The company's revenue for the quarter was up 296.1% on a year-over-year basis. On average, equities analysts predict that Insmed will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insmed news, COO Roger Adsett sold 239,850 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. The trade was a 70.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93. Following the completion of the sale, the insider directly owned 39,454 shares of the company's stock, valued at approximately $4,034,960.58. This trade represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 288,291 shares of company stock worth $37,091,566 in the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Insmed by 10,618.8% in the second quarter. California State Teachers Retirement System now owns 32,497,563 shares of the biopharmaceutical company's stock valued at $3,464,890,000 after purchasing an additional 32,194,381 shares during the period. Darwin Global Management Ltd. grew its holdings in shares of Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company's stock worth $3,644,274,000 after purchasing an additional 475,832 shares during the period. State Street Corp grew its holdings in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company's stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period. RTW Investments LP increased its position in shares of Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company's stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Insmed by 14.4% during the 4th 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 during the last quarter.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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