Insmed (NASDAQ:INSM) Earns "Buy" Rating from HC Wainwright

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $90.00 target price on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 29.14% from the stock's previous close.

INSM has been the topic of several other research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Truist Financial increased their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Royal Bank of Canada restated an "outperform" rating and set a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price target on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price objective on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insmed Stock Performance

Shares of INSM traded up $0.73 during trading hours on Tuesday, reaching $69.69. 13,610,728 shares of the company traded hands, compared to its average volume of 2,306,722. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The business has a fifty day moving average price of $74.38 and a 200-day moving average price of $73.56. Insmed has a 12-month low of $21.92 and a 12-month high of $84.91. The stock has a market capitalization of $12.67 billion, a P/E ratio of -12.47 and a beta of 1.07.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Equities analysts anticipate that Insmed will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, COO Roger Adsett sold 42,975 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $78.61, for a total transaction of $3,378,264.75. Following the completion of the transaction, the chief operating officer now owns 146,082 shares in the company, valued at $11,483,506.02. This represents a 22.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 471,797 shares of company stock valued at $37,621,239. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently made changes to their positions in the company. KBC Group NV increased its position in shares of Insmed by 9.9% during the first quarter. KBC Group NV now owns 7,551 shares of the biopharmaceutical company's stock worth $576,000 after purchasing an additional 678 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Insmed by 3.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 438,674 shares of the biopharmaceutical company's stock worth $31,585,000 after buying an additional 15,580 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Insmed by 37.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,935 shares of the biopharmaceutical company's stock valued at $1,521,000 after buying an additional 5,453 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Insmed in the first quarter worth about $217,000. Finally, Avior Wealth Management LLC boosted its position in Insmed by 82.2% during the first quarter. Avior Wealth Management LLC now owns 4,151 shares of the biopharmaceutical company's stock worth $317,000 after acquiring an additional 1,873 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.