Insmed (NASDAQ:INSM) Reaches New 12-Month High - Here's What Happened

Key Points

• Insmed, Inc. (NASDAQ:INSM) achieved a new 52-week high of $111.28 during trading on Tuesday, with a volume of over 2.24 million shares exchanged.
• Research firms have varied views on Insmed, with Leerink Partners increasing their target price to $115.00, while UBS Group slightly reduced theirs to $109.00, rating the stock as "buy."
• Insmed reported a quarterly revenue of $92.82 million, representing a 22.9% year-over-year increase, although it missed EPS estimates with a loss of ($1.42).

Insmed, Inc. (NASDAQ:INSM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $111.28 and last traded at $111.24, with a volume of 2247339 shares. The stock had previously closed at $108.69.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup upgraded Insmed to a "buy" rating in a research note on Tuesday, June 10th. Leerink Partners lifted their price objective on Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a research report on Tuesday, June 10th. Wells Fargo & Company raised their price objective on shares of Insmed from $119.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley upped their target price on shares of Insmed from $102.00 to $108.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to MarketBeat, Insmed presently has an average rating of "Moderate Buy" and an average target price of $109.20.

Insmed Stock Performance

The company has a market cap of $20.74 billion, a P/E ratio of -18.37 and a beta of 0.95. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. The company has a 50 day moving average price of $97.85 and a 200-day moving average price of $82.12.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the firm earned ($1.94) EPS. Insmed's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts expect that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 9,925 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the sale, the insider owned 86,596 shares in the company, valued at $5,669,440.12. This represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares of the company's stock, valued at approximately $8,352,401.94. This trade represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 599,767 shares of company stock valued at $54,625,108. Insiders own 3.00% of the company's stock.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. Cullen Frost Bankers Inc. raised its holdings in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Insmed in the fourth quarter worth about $28,000. ORG Partners LLC lifted its position in shares of Insmed by 220.2% in the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 196 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Insmed during the 2nd quarter worth about $28,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Insmed during the 2nd quarter valued at about $33,000.

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.