Insmed Incorporated (NASDAQ:INSM) Receives Consensus Recommendation of “Buy” from Analysts

Insmed Incorporated (NASDAQ:INSM) has been assigned a consensus recommendation of “Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. Sixteen research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $79.19.

A number of brokerages recently commented on INSM. The Goldman Sachs Group lifted their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Bank of America reissued a “buy” rating and set a $83.00 price target on shares of Insmed in a research report on Friday, July 5th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Truist Financial decreased their target price on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Rafferty Asset Management LLC boosted its holdings in Insmed by 17.4% in the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after purchasing an additional 47,563 shares during the period. Kingdon Capital Management L.L.C. acquired a new position in shares of Insmed during the fourth quarter worth about $12,551,000. Artia Global Partners LP purchased a new stake in shares of Insmed during the fourth quarter worth approximately $2,322,000. Norges Bank acquired a new stake in Insmed in the fourth quarter valued at approximately $45,029,000. Finally, Clearbridge Investments LLC purchased a new position in Insmed in the first quarter worth approximately $25,242,000.

Insmed Trading Down 0.3 %

Shares of INSM opened at $71.57 on Wednesday. The firm’s fifty day moving average is $73.96 and its two-hundred day moving average is $49.34. The stock has a market cap of $12.30 billion, a PE ratio of -13.74 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. During the same period in the previous year, the company posted ($1.78) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts forecast that Insmed will post -5.42 earnings per share for the current fiscal year.

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.