Insmed (NASDAQ:INSM) Receives Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of Insmed (NASDAQ:INSM) in a research note published on Tuesday morning,Benzinga reports. They currently have a $101.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Morgan Stanley raised their target price on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday, February 19th. Royal Bank of Canada began coverage on Insmed in a research note on Tuesday. They set an “outperform” rating and a $100.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.60.

Insmed Price Performance

NASDAQ INSM opened at $79.05 on Tuesday. The company has a market cap of $14.31 billion, a price-to-earnings ratio of -14.14 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock’s fifty day moving average price is $74.66 and its 200 day moving average price is $73.73. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. As a group, equities research analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Activity

In other news, CFO Sara Bonstein sold 3,470 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now owns 114,736 shares of the company’s stock, valued at $7,538,155.20. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the transaction, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock worth $41,400,465 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in INSM. Elequin Capital LP acquired a new stake in shares of Insmed in the fourth quarter worth approximately $28,000. Steward Partners Investment Advisory LLC boosted its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Insmed by 60.3% during the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Insmed in the fourth quarter valued at about $47,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 411 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.