Insmed (NASDAQ:INSM) Stock Rating Upgraded by The Goldman Sachs Group

Insmed (NASDAQ:INSM) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.

A number of other analysts have also weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $218.00 price target on shares of Insmed in a report on Friday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday, August 10th. Royal Bank Of Canada decreased their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Mizuho set a $192.00 target price on Insmed in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their target price on Insmed from $161.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Insmed presently has an average rating of “Buy” and an average target price of $201.87.

Insmed Price Performance

Insmed stock opened at $121.55 on Thursday. The business’s fifty day moving average is $119.40 and its two-hundred day moving average is $122.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. The firm has a market cap of $26.54 billion, a P/E ratio of -29.57 and a beta of 0.82. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. During the same period last year, the company posted ($1.70) earnings per share. The firm’s quarterly revenue was up 296.1% compared to the same quarter last year. Equities research analysts forecast that Insmed will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction on Monday, August 10th. The stock was sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the sale, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Brennan sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director owned 39,238 shares of the company’s stock, valued at $4,865,512. This represents a 38.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 275,549 shares of company stock worth $36,320,872 in the last three months. Insiders own 2.10% of the company’s stock.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Insmed in the fourth quarter valued at $506,625,000. Bank of New York Mellon Corp acquired a new stake in Insmed during the second quarter worth approximately $139,966,000. Franklin Resources Inc. lifted its position in Insmed by 28.8% during the fourth quarter. Franklin Resources Inc. now owns 2,755,536 shares of the biopharmaceutical company’s stock worth $479,573,000 after acquiring an additional 615,811 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of Insmed during the second quarter worth approximately $64,473,000. Finally, Geode Capital Management LLC grew its position in shares of Insmed by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock valued at $751,936,000 after purchasing an additional 539,625 shares during the last quarter.

About Insmed

Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company’s work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed’s primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.