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

Key Points

• Insmed has a consensus “Buy” rating from 26 analysts: 23 rate it a buy, two a strong buy, and one a sell. The average 12-month price target is $209.35.
• Shares opened at $99.02, near the lower end of their 52-week range of $90.39 to $212.75, with the stock down below both its 50-day and 200-day moving averages.
• Insmed’s latest quarterly results exceeded expectations, with an adjusted loss of $0.76 per share versus the estimated $0.90 loss and revenue of $305.96 million, up 229.7% year over year.

Shares of Insmed, Inc. (NASDAQ:INSM - Get Free Report) have earned an average recommendation of "Buy" from the twenty-six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $209.3478.

A number of research firms have recently commented on INSM. Mizuho set a $192.00 price objective on shares of Insmed in a research note on Tuesday, June 16th. Guggenheim reissued a "buy" rating and issued a $207.00 target price on shares of Insmed in a research report on Friday, July 10th. BMO Capital Markets assumed coverage on shares of Insmed in a report on Monday, July 20th. They issued an "outperform" rating and a $192.00 target price for the company. Truist Financial cut their price target on shares of Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada decreased their price target on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, June 5th.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 6,149 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the transaction, the insider directly owned 41,613 shares of the company's stock, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 54,590 shares of company stock valued at $5,793,738. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Insmed

A number of institutional investors have recently modified their holdings of INSM. CIBC Private Wealth Group LLC raised its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 53 shares during the period. Reflection Asset Management purchased a new stake in Insmed during the fourth quarter worth approximately $30,000. Raiffeisen Bank International AG purchased a new stake in Insmed during the fourth quarter worth approximately $32,000. Larson Financial Group LLC increased its position in shares of Insmed by 137.0% in the fourth quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Insmed in the fourth quarter worth $49,000.

Insmed Stock Performance

Insmed stock opened at $99.02 on Thursday. The stock has a fifty day moving average price of $104.17 and a 200 day moving average price of $129.42. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75. The firm has a market capitalization of $21.46 billion, a P/E ratio of -17.22 and a beta of 0.81. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm's quarterly revenue was up 229.7% on a year-over-year basis. During the same period last year, the company earned ($1.42) EPS. Equities research analysts anticipate that Insmed will post -2.43 earnings per share for the current year.

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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