Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Leerink Partners Analyst Says

Insmed (NASDAQ:INSM - Get Free Report) had its price objective increased by Leerink Partners from $100.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. Leerink Partners' target price indicates a potential upside of 16.48% from the stock's previous close.

Several other brokerages have also recently issued reports on INSM. HC Wainwright reaffirmed a "buy" rating and set a $90.00 target price on shares of Insmed in a research report on Monday, May 12th. UBS Group lowered their price objective on shares of Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price objective on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and an average target price of $104.81.

Insmed Trading Up 1.9%

NASDAQ INSM traded up $1.85 on Tuesday, hitting $98.73. The company's stock had a trading volume of 5,181,385 shares, compared to its average volume of 2,176,868. Insmed has a 52-week low of $60.40 and a 52-week high of $100.00. The company's 50-day simple moving average is $70.73 and its 200 day simple moving average is $73.47. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market cap of $17.98 billion, a P/E ratio of -17.66 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company's revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.06) EPS. Research analysts predict that Insmed will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider now directly owns 89,407 shares in the company, valued at $8,352,401.94. This trade represents a 52.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 57,766 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $89.12, for a total value of $5,148,105.92. Following the completion of the sale, the chief financial officer now owns 103,412 shares of the company's stock, valued at approximately $9,216,077.44. This represents a 35.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 319,932 shares of company stock valued at $25,733,693. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently bought and sold shares of the stock. Darwin Global Management Ltd. lifted its holdings in 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 acquiring an additional 2,463,261 shares during the last quarter. Norges Bank acquired a new stake in shares of Insmed during the 4th quarter valued at $126,606,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Insmed by 109.2% during 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 acquiring an additional 1,799,382 shares in the last quarter. Nuveen LLC acquired a new position in shares of Insmed in the 1st quarter worth $88,351,000. Finally, Vanguard Group Inc. raised its position in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the period.

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.