Insmed Incorporated (NASDAQ:INSM) Given Average Rating of “Buy” by Brokerages

Shares of Insmed Incorporated (NASDAQ:INSM) have been given an average recommendation of “Buy” by the sixteen brokerages that are covering the stock, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $79.19.

Several analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Stifel Nicolaus raised their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company boosted their target price on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. UBS Group lifted their price target on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INSM. EntryPoint Capital LLC acquired a new stake in shares of Insmed during the 1st quarter worth $33,000. Fidelis Capital Partners LLC purchased a new position in Insmed in the 1st quarter valued at about $34,000. First Horizon Advisors Inc. grew its position in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 287 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Insmed in the first quarter valued at $59,000. Finally, CWM LLC raised its stake in shares of Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 155 shares in the last quarter.

Insmed Stock Performance

NASDAQ INSM opened at $71.04 on Wednesday. The business’s 50-day moving average price is $73.85 and its 200 day moving average price is $48.88. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The firm has a market cap of $10.56 billion, a P/E ratio of -13.58 and a beta of 1.11. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

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