Insmed (NASDAQ:INSM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Insmed (NASDAQ:INSM) had its target price upped by equities researchers at HC Wainwright from $230.00 to $245.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 68.62% from the stock’s current price.

INSM has been the topic of a number of other research reports. Wolfe Research set a $167.00 price target on shares of Insmed and gave the company an “outperform” rating in a research note on Thursday, December 18th. Wells Fargo & Company dropped their price objective on shares of Insmed from $208.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, March 23rd. Bank of America boosted their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm upgraded shares of Insmed to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Leerink Partners increased their price target on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $210.19.

Insmed Stock Performance

NASDAQ INSM opened at $145.30 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 3.54. Insmed has a 1-year low of $60.40 and a 1-year high of $212.75. The business has a 50 day simple moving average of $150.13 and a two-hundred day simple moving average of $165.97. The stock has a market capitalization of $31.32 billion, a PE ratio of -22.67 and a beta of 1.13.

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

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 19,215 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the transaction, the chief executive officer owned 306,891 shares in the company, valued at $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the sale, the insider directly owned 41,754 shares in the company, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 189,651 shares of company stock valued at $31,533,654 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Cetera Investment Advisers grew its stake in shares of Insmed by 52.1% during the second quarter. Cetera Investment Advisers now owns 31,462 shares of the biopharmaceutical company’s stock valued at $3,166,000 after buying an additional 10,783 shares during the last quarter. DNB Asset Management AS purchased a new stake in shares of Insmed in the second quarter worth approximately $208,000. Legal & General Group Plc lifted its stake in shares of Insmed by 15.3% during the 2nd quarter. Legal & General Group Plc now owns 207,851 shares of the biopharmaceutical company’s stock worth $20,918,000 after acquiring an additional 27,649 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Insmed by 5.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 4,975 shares of the biopharmaceutical company’s stock worth $501,000 after acquiring an additional 244 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Insmed by 226.7% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 4,900 shares of the biopharmaceutical company’s stock valued at $488,000 after acquiring an additional 3,400 shares during the period.

About Insmed

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.