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

Key Points

• Insmed, Inc. (NASDAQ:INSM) shares reached a new 52-week high of $129.52, highlighting significant investor interest with a trading volume of 144,994 shares.
• Multiple analysts have raised their price targets for Insmed, with Mizuho increasing it to $165.00 and Goldman Sachs to $142.00, contributing to a general consensus of a "Moderate Buy."
• The company's most recent earnings report revealed a larger-than-expected loss of $1.70 per share, despite achieving a revenue increase of 18.9% year-over-year, totaling $107.42 million.

Insmed, Inc. (NASDAQ:INSM - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $129.52 and last traded at $128.84, with a volume of 144994 shares. The stock had previously closed at $127.80.

Wall Street Analysts Forecast Growth

INSM has been the subject of several analyst reports. Mizuho raised their price target on shares of Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group raised their price target on shares of Insmed from $114.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Truist Financial raised their price target on shares of Insmed from $126.00 to $139.00 and gave the company a "buy" rating in a report on Thursday. Finally, HC Wainwright raised their price target on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $129.57.

Insmed Stock Performance

The company has a market cap of $27.35 billion, a PE ratio of -22.68 and a beta of 0.95. The business's 50-day moving average is $103.62 and its 200 day moving average is $83.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.40). The business had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%. Insmed's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.94) EPS. On average, equities research analysts predict that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, CFO Sara Bonstein sold 58,400 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 129,805 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer owned 233,924 shares in the company, valued at $23,483,630.36. The trade was a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 525,716 shares of company stock worth $49,665,671 in the last 90 days. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Insmed in the first quarter valued at about $975,000. OneDigital Investment Advisors LLC increased its position in shares of Insmed by 47.1% in the first quarter. OneDigital Investment Advisors LLC now owns 5,226 shares of the biopharmaceutical company's stock valued at $399,000 after acquiring an additional 1,673 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Insmed in the first quarter valued at about $255,000. GAMMA Investing LLC increased its position in shares of Insmed by 62.0% in the first quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock valued at $77,000 after acquiring an additional 386 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Insmed by 16.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company's stock valued at $288,000 after purchasing an additional 541 shares in 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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