Insmed (NASDAQ:INSM) Price Target Raised to $120.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Insmed (NASDAQ: INSM) from $108.00 to $120.00, suggesting a potential upside of 9.78% from the current stock price.
• Despite reporting a quarterly loss of ($1.70) EPS, Insmed's revenue of $107.42 million exceeded analyst estimates, showing an year-over-year increase of 18.9%.
• Insiders have sold over 599,000 shares of Insmed stock valued at approximately $54.6 million in the past three months, indicating a significant decrease in their holdings.

Insmed (NASDAQ:INSM - Get Free Report) had its price objective lifted by equities researchers at Royal Bank Of Canada from $108.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. Royal Bank Of Canada's target price indicates a potential upside of 9.78% from the stock's current price.

Several other equities research analysts have also recently issued reports on INSM. UBS Group reiterated a "buy" rating and issued a $133.00 price target (up from $124.00) on shares of Insmed in a research note on Friday. Citigroup raised Insmed to a "buy" rating in a research note on Tuesday, June 10th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a research report on Tuesday, June 10th. Morgan Stanley upped their price objective 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. Finally, The Goldman Sachs Group increased their price objective on shares of Insmed from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $111.73.

Insmed Price Performance

Shares of NASDAQ INSM traded up $0.01 during midday trading on Friday, reaching $109.31. 1,273,870 shares of the company traded hands, compared to its average volume of 2,761,335. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. The firm has a market cap of $20.74 billion, a PE ratio of -18.36 and a beta of 0.95. Insmed has a 12 month low of $60.40 and a 12 month high of $113.10. The stock's 50-day simple moving average is $97.85 and its 200-day simple moving average is $82.12.

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

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sara Bonstein sold 58,400 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the sale, the chief financial officer directly owned 73,505 shares of the company's stock, valued at approximately $7,546,758.35. This represents a 44.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,767 shares of company stock valued at $54,625,108 in the last three months. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in INSM. National Bank of Canada FI increased its stake in shares of Insmed by 9.7% in the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock worth $115,000 after buying an additional 147 shares during the last quarter. M&T Bank Corp boosted its position 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 purchasing an additional 147 shares during the period. Snowden Capital Advisors LLC grew its position in shares of Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. grew its position in Insmed by 24.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 186 shares during the last quarter. Finally, ORG Partners LLC increased its position in Insmed by 220.2% in the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 196 shares during the period.

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.

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