HC Wainwright Reiterates “Buy” Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $90.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 31.73% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Guggenheim lifted their price objective on Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their price target on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. TD Cowen raised their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group upped their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial raised their price target on shares of Insmed from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.07.

Insmed Stock Up 1.5 %

NASDAQ:INSM opened at $68.32 on Friday. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The firm’s 50-day moving average price is $73.03 and its 200-day moving average price is $61.51. The company has a market capitalization of $11.74 billion, a PE ratio of -12.31 and a beta of 1.12. Insmed has a 1-year low of $21.92 and a 1-year high of $80.53.

Insmed (NASDAQ:INSM) last announced 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. During the same quarter in the previous year, the business posted ($1.10) EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts predict that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by company insiders.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of Insmed during the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of Insmed during the 1st quarter valued at $33,000.

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.