Insmed (NASDAQ:INSM) Hits New 1-Year High on Analyst Upgrade

Insmed Incorporated (NASDAQ:INSM - Get Free Report) shares hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $100.00 to $112.00. The Goldman Sachs Group currently has a buy rating on the stock. Insmed traded as high as $91.86 and last traded at $90.02, with a volume of 5726166 shares traded. The stock had previously closed at $70.68.

Several other research analysts have also recently issued reports on the company. Morgan Stanley increased their price target on Insmed from $90.00 to $102.00 and gave the stock an "overweight" rating in a research note on Wednesday. HC Wainwright increased their price objective on Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. Guggenheim reaffirmed a "buy" rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Finally, UBS Group dropped their target price on Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.81.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the transaction, the insider now owns 89,407 shares of the company's stock, valued at $8,352,401.94. This represents a 52.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 9,925 shares of Insmed stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total value of $649,789.75. Following the transaction, the insider now directly owns 86,596 shares of the company's stock, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,932 shares of company stock worth $25,733,693 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. boosted its holdings in Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Insmed in the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Insmed in the first quarter valued at approximately $49,000.

Insmed Price Performance

The stock has a market capitalization of $17.81 billion, a P/E ratio of -17.48 and a beta of 0.80. The company's 50-day simple moving average is $70.73 and its 200-day simple moving average is $73.47. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Insmed's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) earnings per share. As a group, sell-side analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal 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.