Insmed (NASDAQ:INSM) Reaches New 12-Month High - Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INSM. Wells Fargo & Company increased their target price on shares of Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Mizuho boosted their price objective on shares of Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Citigroup upgraded Insmed to a "buy" rating in a research note on Tuesday, June 10th. Leerink Partners upped their target price on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Insmed in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.80.

Insmed Stock Performance

The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. The company has a market cap of $19.87 billion, a P/E ratio of -17.61 and a beta of 0.80. The company's 50-day moving average price is $74.81 and its two-hundred day moving average price is $74.52.

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

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 409 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $65.61, for a total value of $26,834.49. Following the transaction, the insider now directly owns 91,794 shares of the company's stock, valued at approximately $6,022,604.34. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 129,805 shares of Insmed stock in a transaction on Monday, June 16th. The shares were sold at an average price of $100.39, for a total value of $13,031,123.95. Following the sale, the chief executive officer now directly owns 233,924 shares of the company's stock, valued at approximately $23,483,630.36. The trade was a 35.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 430,987 shares of company stock worth $37,320,504. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Darwin Global Management Ltd. raised its holdings in shares of Insmed by 23.5% during 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 in the last quarter. Norges Bank acquired a new position in shares of Insmed during the 4th quarter valued at about $126,606,000. Adage Capital Partners GP L.L.C. lifted its holdings in 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 worth $262,967,000 after purchasing an additional 1,799,382 shares during the last quarter. Nuveen LLC bought a new stake in Insmed during the first quarter worth approximately $88,351,000. Finally, Vanguard Group Inc. grew its holdings in Insmed by 6.3% during the fourth 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.

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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