Insmed (NASDAQ:INSM) Stock Price Up 6.3% Following Analyst Upgrade

Insmed, Inc. (NASDAQ:INSM) traded up 6.3% during mid-day trading on Monday after Morgan Stanley upgraded the stock from an equal weight rating to an overweight rating. Morgan Stanley now has a $212.00 price target on the stock. Insmed traded as high as $155.20 and last traded at $154.4440. 752,270 shares traded hands during trading, a decline of 70% from the average session volume of 2,467,938 shares. The stock had previously closed at $145.30.

Other analysts also recently issued reports about the company. Citigroup restated an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Bank of America raised their target price on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Barclays assumed coverage on shares of Insmed in a research report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Rothschild & Co Redburn set a $263.00 price objective on shares of Insmed in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Insmed currently has a consensus rating of “Buy” and an average target price of $212.38.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 748 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total value of $116,942.32. Following the sale, the chief financial officer owned 79,758 shares of the company’s stock, valued at $12,469,365.72. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total transaction of $1,535,520.48. Following the completion of the sale, the chief executive officer owned 301,185 shares in the company, valued at $43,226,071.20. This represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,651 shares of company stock valued at $31,533,654 in the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its holdings in shares of 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 during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Insmed by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 60 shares during the last quarter. Choreo LLC increased its position in Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 69 shares in the last quarter. Finally, ORG Partners LLC raised its stake in Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 74 shares during the last quarter.

Insmed Stock Up 6.0%

The stock has a market cap of $33.18 billion, a price-to-earnings ratio of -24.05 and a beta of 1.13. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $150.13 and its two-hundred day moving average is $166.24.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business’s quarterly revenue was up 152.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.32) earnings per share. On average, sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current 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.