Insmed (NASDAQ:INSM) Given Equal Weight Rating at Morgan Stanley

Key Points

• Morgan Stanley downgraded Insmed from an "overweight" to an "equal weight" rating, setting a target price of $126.00, indicating a 3.28% potential upside from its current price.
• Insmed's recent earnings report showed an EPS of ($1.70), missing estimates of ($1.30), but revenue increased by 18.9% compared to the previous year.
• Insider sales include CEO William Lewis who sold 129,805 shares, representing a 35.69% decrease in his position, amid significant overall insider selling of 537,440 shares in the last 90 days.

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "equal weight" rating reiterated by equities researchers at Morgan Stanley in a report released on Wednesday, Marketbeat reports. They presently have a $126.00 price target on the biopharmaceutical company's stock. Morgan Stanley's target price points to a potential upside of 2.55% from the company's previous close.

Several other analysts have also weighed in on INSM. Bank of America lifted their target price on shares of Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Mizuho lifted their target price on shares of Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Insmed from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price target on shares of Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.86.

Insmed Stock Performance

INSM traded up $0.87 during trading on Wednesday, hitting $122.87. The stock had a trading volume of 4,366,807 shares, compared to its average volume of 2,766,539. The company has a 50 day simple moving average of $101.43 and a 200-day simple moving average of $83.19. Insmed has a 12 month low of $60.40 and a 12 month high of $123.42. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.97 billion, a PE ratio of -21.52 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million for the quarter, compared to analyst estimates of $104.06 million. During the same quarter last year, the firm posted ($1.94) earnings per share. Insmed's revenue was up 18.9% on a year-over-year basis. Analysts expect that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 6,830 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $102.37, for a total transaction of $699,187.10. Following the completion of the sale, the chief executive officer directly owned 233,924 shares of the company's stock, valued at $23,946,799.88. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares of the company's stock, valued at approximately $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 537,440 shares of company stock valued at $50,436,948. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Several large investors have recently bought and sold shares of the company. Jump Financial LLC bought a new stake in Insmed in the second quarter valued at approximately $18,272,000. Affinity Asset Advisors LLC increased its position in shares of Insmed by 239.3% during the second quarter. Affinity Asset Advisors LLC now owns 475,000 shares of the biopharmaceutical company's stock worth $47,804,000 after acquiring an additional 335,000 shares in the last quarter. Diametric Capital LP bought a new stake in shares of Insmed during the second quarter worth $781,000. Amundi increased its position in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after acquiring an additional 11,445 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Insmed by 59.9% during the second quarter. Marshall Wace LLP now owns 1,113,361 shares of the biopharmaceutical company's stock worth $112,049,000 after acquiring an additional 417,124 shares in 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.