Insmed Incorporated (NASDAQ:INSM) Given Average Recommendation of “Buy” by Brokerages

Shares of Insmed Incorporated (NASDAQ:INSM) have earned an average recommendation of “Buy” from the sixteen analysts that are currently covering the company, Marketbeat reports. Sixteen analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $83.67.

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

Insmed Trading Up 5.6 %

Shares of Insmed stock opened at $68.93 on Tuesday. The company’s fifty day moving average is $71.25 and its two-hundred day moving average is $72.47. 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 company has a market capitalization of $12.33 billion, a P/E ratio of -12.42 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 results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned ($1.10) EPS. Analysts forecast that Insmed will post -5.44 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of Insmed stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at $7,573,950.36. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,094 shares of company stock worth $4,733,986 in the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Insmed in the third quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares during the period. Blue Trust Inc. lifted its holdings in Insmed by 2,348.8% in the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 1,879 shares during the period. Finally, JCIC Asset Management Inc. acquired a new position in Insmed in the third quarter valued at $133,000.

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.