Insmed Incorporated (NASDAQ:INSM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been assigned an average recommendation of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $83.67.

INSM has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America lifted their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Insmed in the 2nd quarter valued at approximately $256,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Insmed during the 2nd quarter valued at $330,000. Saxon Interests Inc. purchased a new position in Insmed during the second quarter worth $441,000. Finally, Raymond James & Associates raised its holdings in shares of Insmed by 4.7% in the second quarter. Raymond James & Associates now owns 64,944 shares of the biopharmaceutical company’s stock worth $4,351,000 after acquiring an additional 2,943 shares during the last quarter.

Insmed Stock Down 0.8 %

INSM opened at $69.41 on Friday. Insmed has a 52 week low of $21.92 and a 52 week high of $80.53. The business has a 50 day moving average price of $72.44 and a two-hundred day moving average price of $71.67. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a market cap of $12.42 billion, a PE ratio of -12.51 and a beta of 1.10.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the business earned ($1.10) EPS. Insmed’s revenue was up 18.1% on a year-over-year basis. As a group, research analysts anticipate that Insmed will post -5.44 EPS for the current 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.