Insmed (NASDAQ:INSM) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Insmed's stock reached a new 52-week high of $113.43 after an upgrade from Royal Bank of Canada, which raised its price target to $120.00.
• Several other brokerages have also increased their price targets for Insmed, with an average price target now at $112.71 and a consensus rating of "Buy" from sixteen analysts.
• Insiders sold a substantial amount of stock during recent transactions, with notable sales totaling over $54 million in value, a significant decrease in their positions.

Insmed, Inc. (NASDAQ:INSM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $108.00 to $120.00. Royal Bank Of Canada currently has an outperform rating on the stock. Insmed traded as high as $113.41 and last traded at $113.43, with a volume of 968280 shares. The stock had previously closed at $109.55.

A number of other brokerages have also commented on INSM. Leerink Partners raised their price objective on Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Mizuho raised their price objective on Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their price objective on Insmed from $119.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. UBS Group reissued a "buy" rating and issued a $133.00 price objective (up from $124.00) on shares of Insmed in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Insmed from $90.00 to $111.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat, Insmed presently has a consensus rating of "Buy" and an average price target of $112.71.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 9,925 shares of Insmed 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 transaction, the insider owned 86,596 shares in the company, valued at approximately $5,669,440.12. This trade represents a 10.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 58,400 shares of Insmed stock in a transaction 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 completion of the transaction, the chief financial officer owned 73,505 shares in the company, valued at approximately $7,546,758.35. The trade was a 44.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 599,767 shares of company stock worth $54,625,108 in the last quarter. 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 bought and sold shares of the company. Vanguard Group Inc. grew its position in Insmed by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company's stock worth $1,393,675,000 after acquiring an additional 49,149 shares during the last quarter. Darwin Global Management Ltd. grew its position in shares of Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after buying an additional 2,463,261 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Insmed by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company's stock valued at $985,938,000 after purchasing an additional 219,131 shares during the period. Capital International Investors lifted its stake in shares of Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after purchasing an additional 593,206 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Insmed by 109.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock valued at $262,967,000 after purchasing an additional 1,799,382 shares during the period.

Insmed Price Performance

The company has a market capitalization of $21.58 billion, a price-to-earnings ratio of -19.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. The business has a 50 day moving average price of $98.65 and a 200-day moving average price of $82.40.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. During the same period in the prior year, the firm earned ($1.94) earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts predict that Insmed, Inc. 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.

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