Insmed (NASDAQ:INSM) Sets New 1-Year High - Here's Why

Insmed, Inc. (NASDAQ:INSM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $100.00 and last traded at $99.52, with a volume of 444591 shares trading hands. The stock had previously closed at $98.73.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent research reports. Leerink Partners boosted their target price on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Bank of America lifted their price target on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada boosted their price objective on Insmed from $99.00 to $106.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Citigroup raised Insmed to a "buy" rating in a research note on Tuesday, June 10th. Finally, Morgan Stanley raised their target price on shares of Insmed from $90.00 to $102.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and an average price target of $104.81.

Insmed Price Performance

The company has a market cap of $18.87 billion, a PE ratio of -16.72 and a beta of 0.80. The firm's 50-day moving average is $74.12 and its 200-day moving average is $74.32. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. During the same quarter last year, the company posted ($1.06) EPS. The firm's revenue was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Clarissa Desjardins purchased 1,895 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $66.87 per share, with a total value of $126,718.65. Following the transaction, the director now directly owns 1,895 shares in the company, valued at $126,718.65. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 6,830 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $72.57, for a total value of $495,653.10. Following the completion of the sale, the chief executive officer now directly owns 233,924 shares in the company, valued at approximately $16,975,864.68. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 430,987 shares of company stock valued at $37,320,504 over the last ninety days. Company insiders own 3.00% of the company's stock.

Institutional Trading of Insmed

Several institutional investors have recently bought and sold shares of INSM. Cullen Frost Bankers Inc. raised 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 worth $27,000 after buying an additional 221 shares during the last quarter. Elequin Capital LP purchased a new position in Insmed in the 4th quarter worth approximately $28,000. Steward Partners Investment Advisory LLC raised its holdings in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 163 shares during the last quarter. NBC Securities Inc. bought a new position in Insmed in the 1st quarter valued at approximately $49,000. Finally, Versant Capital Management Inc boosted its stake in Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 590 shares during 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.