Insmed (NASDAQ:INSM) Stock Price Up 6.3% Following Analyst Upgrade

Insmed, Inc. (NASDAQ:INSM)’s share price traded up 6.3% on Monday after Morgan Stanley upgraded the stock from an equal weight rating to an overweight rating. Morgan Stanley now has a $212.00 price target on the stock. Insmed traded as high as $155.20 and last traded at $154.4440. 752,270 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,467,938 shares. The stock had previously closed at $145.30.

INSM has been the topic of a number of other research reports. Barclays assumed coverage on Insmed in a report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price objective on the stock. Jefferies Financial Group started coverage on Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. HC Wainwright increased their price target on shares of Insmed from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research set a $167.00 price objective on shares of Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, UBS Group dropped their price objective on Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Buy” and an average target price of $212.38.

Insiders Place Their Bets

In other news, CEO William Lewis sold 19,215 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the completion of the sale, the chief executive officer directly owned 306,891 shares of the company’s stock, valued at approximately $51,864,579. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the sale, the insider owned 41,754 shares of the company’s stock, valued at $7,315,300.80. This trade represents a 67.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 189,651 shares of company stock worth $31,533,654. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Choreo LLC purchased a new stake in shares of Insmed during the second quarter worth approximately $227,000. State Board of Administration of Florida Retirement System grew its position in Insmed by 245.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,165 shares of the biopharmaceutical company’s stock valued at $13,100,000 after buying an additional 92,533 shares during the last quarter. Norges Bank acquired a new position in Insmed in the 2nd quarter valued at $194,728,000. New York State Common Retirement Fund increased its stake in Insmed by 20.2% in the 2nd quarter. New York State Common Retirement Fund now owns 427,753 shares of the biopharmaceutical company’s stock valued at $43,049,000 after buying an additional 72,031 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Insmed during the 2nd quarter worth $429,000.

Insmed Stock Performance

The company has a market cap of $33.18 billion, a PE ratio of -24.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The stock’s 50-day simple moving average is $150.13 and its 200 day simple moving average is $166.24.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm’s revenue was up 152.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.32) EPS. As a group, equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

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.