Brokerages Set Insmed, Inc. (NASDAQ:INSM) Price Target at $211.00

Insmed, Inc. (NASDAQ:INSM) has been given an average rating of “Moderate Buy” by the twenty-five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twenty-three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $211.0455.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. JPMorgan Chase & Co. decreased their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, June 8th. Raymond James Financial started coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank Of Canada cut their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Finally, Roth Capital reissued a “buy” rating on shares of Insmed in a research report on Monday, June 8th.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 1,806 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares in the company, valued at $3,607,431.36. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. CoreCap Advisors LLC acquired a new position in shares of Insmed during the fourth quarter worth $27,000. Reflection Asset Management acquired a new position in Insmed during the 4th quarter valued at about $30,000. GraniteShares Advisors LLC purchased a new stake in Insmed in the fourth quarter valued at about $30,000. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Insmed during the fourth quarter worth about $32,000.

Insmed Price Performance

Shares of INSM opened at $107.46 on Friday. Insmed has a 12-month low of $90.39 and a 12-month high of $212.75. The business’s fifty day moving average is $105.58 and its 200 day moving average is $136.11. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The stock has a market cap of $23.29 billion, a P/E ratio of -18.69 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.42) earnings per share. Sell-side analysts anticipate that Insmed will post -2.52 earnings per share for the current fiscal year.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.