Insmed (NASDAQ:INSM) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Insmed (NASDAQ:INSM) in a report released on Thursday morning, Benzinga reports. HC Wainwright currently has a $90.00 price target on the biopharmaceutical company’s stock.

INSM has been the topic of several other reports. Stifel Nicolaus raised their target price on Insmed from $74.00 to $88.00 and gave the company a buy rating in a report on Friday, August 9th. The Goldman Sachs Group raised their target price on Insmed from $74.00 to $102.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price target on shares of Insmed from $55.00 to $77.00 and gave the stock an overweight rating in a research note on Wednesday, May 29th. Bank of America reissued a buy rating and issued a $83.00 target price on shares of Insmed in a research report on Friday, July 5th. Finally, TD Cowen increased their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a buy rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $79.19.

Insmed Stock Up 0.2 %

INSM opened at $76.47 on Thursday. Insmed has a 1 year low of $21.65 and a 1 year high of $80.53. The firm has a 50 day moving average price of $73.30 and a 200 day moving average price of $47.45. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The company has a market cap of $11.36 billion, a PE ratio of -14.62 and a beta of 1.16.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. During the same quarter in the previous year, the company posted ($1.78) earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts expect that Insmed will post -5.42 earnings per share for the current year.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently added to or reduced their stakes in INSM. Vanguard Group Inc. grew its position in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in Insmed during the 2nd quarter valued at about $237,076,000. Principal Financial Group Inc. grew its position in Insmed by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after purchasing an additional 218,480 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Capital International Investors bought a new stake in shares of Insmed during the first quarter valued at approximately $43,973,000.

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.