Insmed Incorporated (NASDAQ:INSM) Receives $83.67 Average PT from Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been assigned a consensus recommendation of “Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $83.67.

INSM has been the topic of several recent research reports. Bank of America upped their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st.

Insmed Stock Performance

Shares of INSM stock opened at $65.72 on Tuesday. Insmed has a one year low of $21.92 and a one 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. The firm’s 50 day moving average price is $71.33 and its 200-day moving average price is $72.49. The firm has a market cap of $11.76 billion, a P/E ratio of -11.84 and a beta of 1.12.

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

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the transaction, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of Insmed in the 2nd quarter worth $237,076,000. Principal Financial Group Inc. boosted its holdings in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after acquiring an additional 214,130 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after acquiring an additional 714,539 shares during the period. Finally, Vestal Point Capital LP raised 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 purchasing an additional 850,000 shares in the last quarter.

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.