Insmed (NASDAQ:INSM) Hits New 1-Year High After Analyst Upgrade

Insmed Incorporated (NASDAQ:INSM) hit a new 52-week high on Tuesday 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 $91.86 and last traded at $90.02, with a volume of 5726166 shares traded. The stock had previously closed at $70.68.

A number of other research firms also recently commented on INSM. Jefferies Financial Group reaffirmed a “buy” rating on shares of Insmed in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Insmed from $90.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup raised shares of Insmed to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.81.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 5,472 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.50, for a total value of $391,248.00. Following the sale, the chief executive officer now directly owns 308,758 shares of the company’s stock, valued at approximately $22,076,197. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 1,879 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the sale, the insider now directly owns 67,718 shares in the company, valued at approximately $4,977,273. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,994 shares of company stock valued at $11,320,938 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Insmed by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company’s stock valued at $1,393,675,000 after purchasing an additional 49,149 shares during the last quarter. Darwin Global Management Ltd. raised its stake in Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after acquiring an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Insmed by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company’s stock worth $985,938,000 after acquiring an additional 219,131 shares in the last quarter. Capital International Investors raised its stake in Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock worth $491,357,000 after acquiring an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock worth $282,243,000 after acquiring an additional 273,759 shares in the last quarter.

Insmed Price Performance

The company’s 50 day moving average is $70.16 and its 200 day moving average is $73.31. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of -17.53 and a beta of 0.80.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing the consensus estimate 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 company had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same quarter in the prior year, the business earned ($1.06) earnings per share. Insmed’s revenue was up 22.9% compared to the same quarter last year. Research analysts anticipate 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.