Insmed (NASDAQ:INSM) Shares Up 4.5% on Analyst Upgrade

Insmed Incorporated (NASDAQ:INSM - Get Free Report)'s share price was up 4.5% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $100.00 to $112.00. The Goldman Sachs Group currently has a buy rating on the stock. Insmed traded as high as $93.82 and last traded at $95.02. Approximately 1,501,338 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 2,120,273 shares. The stock had previously closed at $90.93.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a research note on Tuesday. HC Wainwright raised their price target on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group cut their price target on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Leerink Partners upped their price objective on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Stifel Nicolaus dropped their price objective on Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.81.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 4,407 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total value of $298,838.67. Following the completion of the sale, the insider now owns 92,203 shares in the company, valued at approximately $6,252,285.43. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 9,925 shares of the business's stock in a transaction that occurred 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 now directly owns 86,596 shares in the company, valued at $5,669,440.12. This trade represents a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,994 shares of company stock worth $11,320,938. 3.00% of the stock is owned by insiders.

Institutional Trading of Insmed

Hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Insmed by 164.9% during 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 in the last quarter. Elequin Capital LP bought a new stake in shares of Insmed in the 4th quarter worth about $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares during the last quarter. NBC Securities Inc. acquired a new position in Insmed in the first quarter worth about $49,000. Finally, V Square Quantitative Management LLC increased its holdings in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 248 shares during the last quarter.

Insmed Price Performance

The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a 50 day simple moving average of $70.16 and a 200-day simple moving average of $73.31. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of -17.46 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same quarter last year, the business earned ($1.06) earnings per share. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, research analysts anticipate that Insmed Incorporated 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.