Insmed Incorporated (NASDAQ:INSM) Given Consensus Recommendation of “Buy” by Analysts

Insmed Incorporated (NASDAQ:INSM) has earned a consensus rating of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $83.67.

INSM has been the subject of several research analyst reports. Bank of America upped their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, UBS Group upped their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Insmed Price Performance

NASDAQ INSM opened at $73.15 on Monday. The company has a fifty day moving average of $72.04 and a 200 day moving average of $66.31. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

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 analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted ($1.10) EPS. On average, research analysts anticipate that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Darwin Global Management Ltd. acquired a new position in shares of Insmed during the second quarter worth about $237,076,000. Capital International Investors purchased a new stake in Insmed during the first quarter worth about $43,973,000. Clearbridge Investments LLC purchased a new stake in Insmed during the first quarter worth about $25,242,000. Vestal Point Capital LP boosted its holdings in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares in the last quarter. Finally, Fiera Capital Corp purchased a new stake in Insmed during the second quarter worth about $40,570,000.

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.