Insmed’s (INSM) Buy Rating Reaffirmed at Guggenheim

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $101.00 price target on the biopharmaceutical company’s stock. Guggenheim’s price objective suggests a potential upside of 28.00% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial boosted their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Stifel Nicolaus dropped their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley raised their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.60.

Insmed Price Performance

Insmed stock traded down $1.13 during trading hours on Tuesday, hitting $78.91. 238,851 shares of the company traded hands, compared to its average volume of 1,887,479. Insmed has a 1-year low of $21.92 and a 1-year high of $84.91. The firm has a market cap of $14.12 billion, a P/E ratio of -14.08 and a beta of 1.11. The firm’s 50-day simple moving average is $74.43 and its two-hundred day simple moving average is $73.67. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. As a group, analysts forecast that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, CFO Sara Bonstein sold 3,470 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now directly owns 114,736 shares in the company, valued at approximately $7,538,155.20. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares in the company, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,207 shares of company stock valued at $41,400,465 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Insmed by 29.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,215 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 1,402 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Insmed by 88.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,350 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 1,572 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Insmed by 74.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 33,052 shares of the biopharmaceutical company’s stock worth $2,413,000 after buying an additional 14,110 shares during the last quarter. US Bancorp DE boosted its stake in shares of Insmed by 55.3% during the 3rd quarter. US Bancorp DE now owns 7,932 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 2,824 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Insmed during the 3rd quarter valued at about $1,291,000.

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.