Insmed (NASDAQ:INSM) Stock Price Up 4.5% on Analyst Upgrade

Insmed Incorporated (NASDAQ:INSM) shares rose 4.5% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $100.00 to $112.00. The Goldman Sachs Group currently has a buy rating on the stock. Insmed traded as high as $93.82 and last traded at $95.02. Approximately 1,501,338 shares were traded during trading, a decline of 29% from the average daily volume of 2,120,273 shares. The stock had previously closed at $90.93.

Other analysts have also recently issued reports about the company. Guggenheim reiterated a “buy” rating and set a $101.00 price target on shares of Insmed in a research report on Tuesday, February 25th. Wells Fargo & Company boosted their price target on Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upped their target price on Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group dropped their target price on Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Mizuho upped their target price on Insmed from $96.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.81.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the sale, the chief executive officer now owns 334,186 shares of the company’s stock, valued at $25,742,347.58. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara Bonstein sold 8,870 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $67.81, for a total value of $601,474.70. Following the completion of the sale, the chief financial officer now directly owns 109,993 shares in the company, valued at $7,458,625.33. This represents a 7.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,994 shares of company stock valued at $11,320,938 in the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. increased its holdings in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP purchased a new position in Insmed during the 4th quarter worth approximately $28,000. Steward Partners Investment Advisory LLC grew its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in Insmed during the 1st quarter worth approximately $49,000.

Insmed Stock Up 7.8%

The business has a 50 day moving average of $70.16 and a 200-day moving average of $73.31. The stock has a market cap of $17.85 billion, a PE ratio of -17.53 and a beta of 0.80. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. During the same quarter in the prior year, the business earned ($1.06) EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities research analysts predict that Insmed Incorporated will post -4.56 EPS for the current fiscal 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.