Insmed (NASDAQ:INSM) Hits New 52-Week High - Time to Buy?

Insmed, Inc. (NASDAQ:INSM - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $103.79 and last traded at $103.72, with a volume of 692095 shares. The stock had previously closed at $102.68.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Morgan Stanley raised their target price on Insmed from $90.00 to $102.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. UBS Group lowered their target price on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group raised their target price on Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Mizuho raised their target price on Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.80.

Insmed Stock Down 3.0%

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 $19.30 billion, a price-to-earnings ratio of -17.10 and a beta of 0.80. The firm has a 50-day moving average price of $77.47 and a two-hundred day moving average price of $75.35.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) EPS. On average, sell-side analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 57,765 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $101.78, for a total transaction of $5,879,321.70. Following the transaction, the chief financial officer now owns 93,536 shares in the company, valued at $9,520,094.08. This trade represents a 38.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 129,805 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the transaction, the chief executive officer now owns 233,924 shares in the company, valued at $23,483,630.36. This represents a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 488,752 shares of company stock worth $43,199,826 in the last quarter. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. grew its stake 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 purchasing an additional 2,463,261 shares during the last quarter. Norges Bank purchased a new position in shares of Insmed in the 4th quarter valued at approximately $126,606,000. Adage Capital Partners GP L.L.C. grew 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 last quarter. Nuveen LLC purchased a new position in shares of Insmed in the 1st quarter valued at approximately $88,351,000. Finally, Vanguard Group Inc. grew its stake in shares of Insmed by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after purchasing an additional 1,075,796 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.