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

Insmed, Inc. (NASDAQ:INSM)’s share price shot up 6.3% 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, up from their previous price target of $166.00. Insmed traded as high as $155.20 and last traded at $154.4440. 752,270 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,467,938 shares. The stock had previously closed at $145.30.

INSM has been the topic of a number of other reports. Jefferies Financial Group initiated coverage on shares of Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Guggenheim decreased their target price on shares of Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. HC Wainwright raised their price target on shares of Insmed from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Bank of America lifted their price target on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Stifel Nicolaus upped their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Three investment 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’s stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Buy” and a consensus price target of $212.38.

Insider Activity at Insmed

In other news, CFO Sara Bonstein sold 748 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total value of $116,942.32. Following the transaction, the chief financial officer directly owned 79,758 shares in the company, valued at approximately $12,469,365.72. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 10,699 shares of Insmed 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 of the company’s stock, valued at $43,226,071.20. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,651 shares of company stock valued at $31,533,654 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of Insmed by 8,052.6% in the 4th quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock valued at $21,493,000 after buying an additional 121,755 shares during the period. Rockefeller Capital Management L.P. grew its position in Insmed by 88.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 16,775 shares of the biopharmaceutical company’s stock valued at $2,920,000 after acquiring an additional 7,863 shares in the last quarter. Corient Private Wealth LLC grew its position in Insmed by 34.1% in the 4th quarter. Corient Private Wealth LLC now owns 20,865 shares of the biopharmaceutical company’s stock valued at $3,631,000 after acquiring an additional 5,305 shares in the last quarter. Keenan LLC purchased a new stake in Insmed during the fourth quarter worth about $369,000. Finally, Reflection Asset Management purchased a new stake in Insmed during the fourth quarter worth about $30,000.

Insmed Price Performance

The firm has a market cap of $35.25 billion, a price-to-earnings ratio of -25.51 and a beta of 1.13. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $149.97 and its 200-day moving average price is $166.42.

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

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.