Insmed, Inc. (NASDAQ:INSM) Receives Average Rating of "Buy" from Analysts

Key Points

• Insmed, Inc. has received a consensus recommendation of "Buy" from seventeen research firms, with an average price target of $109.20 for the next year.
• Recent upgrades by analysts include Morgan Stanley raising its target from $102.00 to $108.00, and Citigroup upgrading the stock to a "buy" rating.
• In recent insider trading, CEO William Lewis sold 129,805 shares at an average price of $100.39, indicating a 35.69% decrease in his ownership position.

Shares of Insmed, Inc. (NASDAQ:INSM - Get Free Report) have been given a consensus recommendation of "Buy" by the seventeen brokerages that are covering the firm, Marketbeat.com reports. Seventeen investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $109.20.

INSM has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their price target on shares of Insmed from $99.00 to $106.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. HC Wainwright boosted their price target on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a report on Tuesday, June 10th.

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares of the company's stock, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William Lewis sold 129,805 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the sale, the chief executive officer directly owned 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 606,597 shares of company stock valued at $55,120,762 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently added to or reduced their stakes in INSM. KLP Kapitalforvaltning AS bought a new stake in Insmed during the 4th quarter worth about $2,278,000. LPL Financial LLC lifted its position in Insmed by 10.7% during the 4th quarter. LPL Financial LLC now owns 32,757 shares of the biopharmaceutical company's stock worth $2,262,000 after buying an additional 3,172 shares in the last quarter. Vanguard Group Inc. lifted its position in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after buying an additional 1,075,796 shares in the last quarter. Corebridge Financial Inc. lifted its position in Insmed by 2.0% during the 4th quarter. Corebridge Financial Inc. now owns 85,719 shares of the biopharmaceutical company's stock worth $5,918,000 after buying an additional 1,685 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Insmed by 9.0% during the 4th quarter. Prudential Financial Inc. now owns 146,722 shares of the biopharmaceutical company's stock worth $10,130,000 after buying an additional 12,132 shares in the last quarter.

Insmed Trading Up 3.2%

INSM traded up $3.25 during trading on Friday, reaching $105.00. 1,723,979 shares of the company's stock were exchanged, compared to its average volume of 2,324,728. The company's fifty day moving average price is $91.98 and its 200-day moving average price is $80.33. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $106.83. The firm has a market capitalization of $19.92 billion, a PE ratio of -17.65 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period in the prior year, the firm posted ($1.06) EPS. Insmed's revenue was up 22.9% on a year-over-year basis. As a group, equities analysts forecast that Insmed will post -4.56 EPS for the current year.

About Insmed

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.