Insmed (NASDAQ:INSM) Shares Up 6% – What’s Next?

Insmed Incorporated (NASDAQ:INSM) shares shot up 6% during trading on Monday . The company traded as high as $69.41 and last traded at $69.16. 1,527,577 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 1,826,931 shares. The stock had previously closed at $65.25.

Wall Street Analyst Weigh In

A number of analysts have recently commented on INSM shares. Bank of America lifted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Price Performance

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 business has a fifty day simple moving average of $71.23 and a 200 day simple moving average of $72.48. The stock has a market capitalization of $12.56 billion, a P/E ratio of -12.65 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the previous year, the business posted ($1.10) EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insider Transactions at Insmed

In related news, insider Martina M.D. Flammer sold 6,172 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now owns 101,549 shares of the company’s stock, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at $24,874,439.04. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,094 shares of company stock worth $4,733,986 in the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of large investors have recently made changes to their positions in the business. CIBC Asset Management Inc raised its stake in Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 149 shares during the last quarter. Commerce Bank lifted its holdings in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the period. Atomi Financial Group Inc. lifted its position in Insmed by 1.4% during the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after purchasing an additional 314 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in shares of Insmed during the 3rd quarter valued at $30,000.

About Insmed

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.