Analysts Set Insmed, Inc. (NASDAQ:INSM) Price Target at $209.35

Shares of Insmed, Inc. (NASDAQ:INSM) have been given an average recommendation of “Buy” by the twenty-six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $205.5217.

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Monday. Roth Capital reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Royal Bank Of Canada reduced their price target on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Truist Financial reiterated a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday. Finally, Guggenheim cut their target price on shares of Insmed from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday.

Insmed Trading Up 2.8%

Shares of Insmed stock opened at $134.75 on Thursday. The firm’s 50 day moving average is $105.71 and its 200 day moving average is $128.80. The firm has a market capitalization of $29.43 billion, a PE ratio of -32.79 and a beta of 0.81. Insmed has a 1 year low of $90.39 and a 1 year high of $212.75. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.61. The business had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm’s revenue was up 296.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.70) EPS. Equities research analysts forecast that Insmed will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 54,590 shares of company stock worth $5,793,738 over the last ninety days. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. Bank of New York Mellon Corp acquired a new position in shares of Insmed in the 2nd quarter valued at about $139,966,000. S&CO Inc. acquired a new stake in Insmed during the second quarter worth approximately $1,386,000. E. Ohman J or Asset Management AB grew its stake in Insmed by 48.7% during the second quarter. E. Ohman J or Asset Management AB now owns 7,789 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 2,550 shares during the period. Handelsbanken Fonder AB increased its holdings in Insmed by 180.9% in the second quarter. Handelsbanken Fonder AB now owns 189,581 shares of the biopharmaceutical company’s stock worth $20,213,000 after purchasing an additional 122,100 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Insmed in the second quarter worth approximately $498,000.

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.