Insmed Incorporated (NASDAQ:INSM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been assigned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $62.38.

A number of brokerages recently issued reports on INSM. Morgan Stanley increased their price objective on shares of Insmed from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. The Goldman Sachs Group upped their price objective on Insmed from $49.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. UBS Group lifted their target price on Insmed from $46.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, HC Wainwright upped their price target on Insmed from $52.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 29th.

Insider Activity

In related news, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now directly owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Insmed news, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares in the company, valued at approximately $9,802,870. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Drayton Wise sold 5,088 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Hedge funds have recently modified their holdings of the company. Capital International Investors purchased a new position in shares of Insmed in the first quarter valued at $43,973,000. Norges Bank bought a new stake in shares of Insmed in the 4th quarter worth about $45,029,000. Vanguard Group Inc. raised its position in shares of Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after buying an additional 1,024,956 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Insmed in the 1st quarter valued at about $25,242,000. Finally, Assenagon Asset Management S.A. grew its position in Insmed by 325.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after acquiring an additional 927,040 shares in the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $66.95 on Friday. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of -12.80 and a beta of 1.12. The company has a fifty day moving average of $41.68 and a 200-day moving average of $32.84. Insmed has a 52-week low of $19.74 and a 52-week high of $70.65.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $77.76 million. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) earnings per share. On average, equities research analysts forecast that Insmed will post -4.58 earnings per share for the current fiscal year.

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.