Guggenheim Reiterates "Buy" Rating for Insmed (NASDAQ:INSM)

Key Points

• Guggenheim reiterated a “Buy” rating on Insmed and set a $207 price target, implying roughly 75% upside from the stock’s current level.
• Other Wall Street firms remain largely bullish, with multiple firms raising targets or maintaining buy-equivalent ratings; MarketBeat says Insmed has a Moderate Buy consensus and an average target of $211.
• Insmed reported strong quarterly revenue growth of 229.7% year over year and beat earnings and revenue estimates, even though it still posted a loss and management/analysts expect negative EPS for the full year.

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "buy" rating reiterated by Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $207.00 price target on the biopharmaceutical company's stock. Guggenheim's target price would indicate a potential upside of 75.04% from the stock's current price.

A number of other analysts have also commented on the company. Bank of America boosted their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. dropped their target price on Insmed from $180.00 to $179.00 and set an "overweight" rating on the stock in a report on Monday, June 8th. Barclays lifted their target price on Insmed from $231.00 to $237.00 and gave the company an "overweight" rating in a research report on Wednesday, April 1st. Leerink Partners upped their price target on Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a report on Tuesday, March 24th. Finally, Jefferies Financial Group started coverage on Insmed in a research report on Monday, March 16th. They issued a "buy" rating and a $228.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.00.

Insmed Stock Up 1.5%

Shares of NASDAQ INSM opened at $118.26 on Friday. The stock has a market capitalization of $25.63 billion, a P/E ratio of -20.57 and a beta of 0.78. The company has a 50-day moving average price of $107.60 and a 200-day moving average price of $138.43. Insmed has a 1 year low of $90.39 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. During the same period in the previous year, the firm posted ($1.42) earnings per share. The firm's revenue for the quarter was up 229.7% on a year-over-year basis. On average, equities research analysts forecast that Insmed will post -2.55 EPS for the current fiscal year.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the transaction, the insider owned 37,648 shares of the company's stock, valued at $3,607,431.36. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. The trade was a 2.35% 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. In the last 90 days, insiders have sold 54,590 shares of company stock worth $6,078,011. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. EverSource Wealth Advisors LLC increased its position in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after purchasing an additional 21,176 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Insmed in the 2nd quarter worth about $2,589,000. Amundi boosted its holdings in shares of Insmed by 21,194.4% in the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 11,445 shares during the last quarter. Finally, Natixis bought a new position in Insmed during the second quarter valued at about $1,072,000.

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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