Insmed, Inc. (NASDAQ:INSM) Receives $211.00 Consensus Price Target from Brokerages

Shares of Insmed, Inc. (NASDAQ:INSM) have received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $211.00.

Several brokerages have commented on INSM. Raymond James Financial began coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Truist Financial reduced their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Bank of America increased their target price on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Finally, Wells Fargo & Company dropped their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th.

Insmed Stock Up 0.9%

Shares of NASDAQ INSM opened at $110.11 on Friday. The firm has a fifty day simple moving average of $106.08 and a two-hundred day simple moving average of $137.07. Insmed has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $23.87 billion, a PE ratio of -19.15 and a beta of 0.78.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) EPS. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. Equities analysts expect that Insmed will post -2.55 earnings per share for the current year.

Insider Transactions at Insmed

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03. Following the completion of the transaction, the insider owned 41,613 shares of the company’s stock, valued at approximately $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the sale, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 65,289 shares of company stock worth $7,334,073. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Insmed by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. boosted its position in shares of Insmed by 2.3% in the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after purchasing an additional 475,832 shares in the last quarter. State Street Corp grew its stake in shares of Insmed by 30.6% in the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after buying an additional 1,217,390 shares during the last quarter. RTW Investments LP grew its stake in shares of Insmed by 57.0% in the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Insmed by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock worth $751,936,000 after buying an additional 539,625 shares during the last quarter.

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.