Insmed (NASDAQ:INSM) Earns “Buy” Rating from HC Wainwright

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $90.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 36.97% from the stock’s previous close.

INSM has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Truist Financial upped their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. UBS Group dropped their price objective on Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.63.

Insmed Stock Performance

NASDAQ:INSM opened at $65.71 on Monday. The stock has a 50-day simple moving average of $72.17 and a two-hundred day simple moving average of $73.26. Insmed has a 52-week low of $21.92 and a 52-week high of $84.91. 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 has a market capitalization of $11.95 billion, a PE ratio of -11.75 and a beta of 0.84.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the firm posted ($1.06) EPS. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts forecast that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total transaction of $479,192.80. Following the sale, the chief executive officer now directly owns 233,924 shares in the company, valued at $16,412,107.84. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sara Bonstein sold 18,322 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total value of $1,471,439.82. Following the completion of the sale, the chief financial officer now owns 118,863 shares in the company, valued at approximately $9,545,887.53. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,232 shares of company stock worth $6,868,473 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. raised its holdings in shares of Insmed by 164.9% in the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 221 shares during the period. Elequin Capital LP purchased a new stake in shares of Insmed in the fourth quarter worth approximately $28,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Insmed by 60.3% in 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 during the period. Finally, Spire Wealth Management purchased a new stake in shares of Insmed in the fourth quarter worth approximately $47,000.

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.