Insmed (NASDAQ:INSM) Trading Up 7.2% – Time to Buy?

Insmed, Inc. (NASDAQ:INSM) shares shot up 7.2% during mid-day trading on Tuesday . The company traded as high as $110.50 and last traded at $111.40. 647,989 shares traded hands during trading, a decline of 75% from the average session volume of 2,571,582 shares. The stock had previously closed at $103.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Guggenheim dropped their price target on shares of Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Raymond James Financial started coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $212.00 price objective on shares of Insmed in a research report on Friday, April 17th. Finally, Royal Bank Of Canada lowered their target price on Insmed from $220.00 to $205.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insmed Price Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of -20.11 and a beta of 0.89. The business’s 50-day moving average price is $142.14 and its two-hundred day moving average price is $163.64.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the prior year, the company posted ($1.42) earnings per share. The firm’s quarterly revenue was up 229.7% on a year-over-year basis. On average, research analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 19,638 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider owned 51,871 shares in the company, valued at approximately $7,831,483.58. This represents a 27.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at $43,361,604.45. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 161,193 shares of company stock valued at $25,462,012. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in INSM. EULAV Asset Management bought a new stake in shares of Insmed in the 3rd quarter worth approximately $12,961,000. Artisan Partners Limited Partnership grew its stake in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC acquired a new stake in Insmed in the third quarter worth $13,681,000. Nisa Investment Advisors LLC increased its position in Insmed by 374.6% in the third quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock worth $1,507,000 after buying an additional 8,261 shares during the period. Finally, Nordea Investment Management AB bought a new stake in Insmed in the fourth quarter valued at $3,492,000.

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.