Insmed (NASDAQ:INSM) Trading Up 3% Following Analyst Upgrade

Key Points

• Insmed's stock price rose by 3% after Stifel Nicolaus upgraded its price target from $121.00 to $145.00, maintaining a buy rating on the stock.
• Insmed reported a negative EPS of ($1.70) for the last quarter, missing estimates but showing an 18.9% increase in revenue year-over-year.
• Insider trading activity revealed significant stock sales, with CEO William Lewis selling 129,805 shares, indicating potential insider confidence issues among executives.

Insmed, Inc. (NASDAQ:INSM - Get Free Report)'s share price was up 3% during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $121.00 to $145.00. Stifel Nicolaus currently has a buy rating on the stock. Insmed traded as high as $125.98 and last traded at $126.53. Approximately 474,643 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,801,443 shares. The stock had previously closed at $122.87.

INSM has been the subject of a number of other research reports. Citigroup raised Insmed to a "buy" rating in a research note on Tuesday, June 10th. Mizuho raised their price objective on Insmed from $130.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday. Morgan Stanley reissued an "equal weight" rating and issued a $126.00 price objective on shares of Insmed in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Insmed from $90.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $120.00 target price (up previously from $108.00) on shares of Insmed in a research report on Friday, August 8th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.36.

Insider Activity

In other news, CEO William Lewis sold 129,805 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the transaction, the chief executive officer owned 233,924 shares of the company's stock, valued at $23,483,630.36. This represents a 35.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. This represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 527,515 shares of company stock valued at $49,787,158 in the last 90 days. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently modified their holdings of INSM. Cullen Frost Bankers Inc. increased its position in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP bought a new position in shares of Insmed during the 4th quarter valued at about $28,000. ORG Partners LLC increased its position in shares of Insmed by 220.2% during the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 196 shares during the last quarter. Hilltop National Bank bought a new position in shares of Insmed during the 2nd quarter valued at about $28,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Insmed during the 2nd quarter valued at about $33,000.

Insmed Price Performance

The stock has a market capitalization of $26.69 billion, a P/E ratio of -22.07 and a beta of 0.95. The firm has a 50-day moving average price of $101.43 and a 200 day moving average price of $83.19. 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 posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%. The company had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same quarter in the previous year, the business earned ($1.94) earnings per share. Insmed's revenue was up 18.9% compared to the same quarter last year. On average, analysts expect that Insmed, Inc. will post -4.56 EPS for the current 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.

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