Insmed (NASDAQ:INSM) Shares Gap Up – Still a Buy?

Insmed Incorporated (NASDAQ:INSM) gapped up before the market opened on Tuesday . The stock had previously closed at $66.61, but opened at $68.50. Insmed shares last traded at $70.67, with a volume of 236,403 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on INSM shares. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. TD Cowen lifted their price objective on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their price target on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.07.

Insmed Stock Up 8.2 %

The firm has a 50-day moving average price of $72.13 and a two-hundred day moving average price of $64.97. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of -12.73 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same period in the prior year, the company earned ($1.10) earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on 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 approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC bought a new stake in Insmed in the first quarter valued at approximately $25,242,000. Kennedy Capital Management LLC bought a new stake in Insmed in the 1st quarter valued at $267,000. Russell Investments Group Ltd. lifted its holdings in Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 21,963 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in Insmed during the third quarter worth $35,322,000. Finally, &PARTNERS bought a new position in Insmed during the second quarter worth $300,000.

Insmed Company Profile

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.