Royal Bank of Canada Raises Insmed (NASDAQ:INSM) Price Target to $106.00

Insmed (NASDAQ:INSM - Free Report) had its price objective upped by Royal Bank of Canada from $99.00 to $106.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company's stock.

Other equities analysts have also issued reports about the company. Bank of America increased their price objective on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup raised shares of Insmed to a "buy" rating in a research note on Tuesday. UBS Group lowered their price objective on shares of Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Stifel Nicolaus reduced their target price on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Insmed in a research report on Tuesday. One research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $104.81.

Insmed Stock Up 2.4%

INSM stock traded up $2.31 during midday trading on Wednesday, reaching $99.19. 1,758,672 shares of the company's stock traded hands, compared to its average volume of 2,164,072. 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 firm's fifty day moving average price is $70.73 and its 200-day moving average price is $73.47. Insmed has a 52 week low of $60.40 and a 52 week high of $100.00. The company has a market cap of $18.07 billion, a price-to-earnings ratio of -17.76 and a beta of 0.80.

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

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 409 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $65.61, for a total value of $26,834.49. Following the completion of the sale, the insider now owns 91,794 shares in the company, valued at approximately $6,022,604.34. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider now directly owns 89,407 shares of the company's stock, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 319,932 shares of company stock worth $25,733,693 over the last ninety days. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of the business. National Bank of Canada FI lifted its position in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock worth $115,000 after purchasing an additional 147 shares during the last quarter. M&T Bank Corp lifted its holdings in Insmed by 4.7% during the 1st quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock valued at $252,000 after buying an additional 147 shares in the last quarter. Snowden Capital Advisors LLC lifted its holdings in Insmed by 2.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after buying an additional 158 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 163 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Insmed by 3.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company's stock worth $446,000 after acquiring an additional 186 shares in 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.