Insmed’s (INSM) “Buy” Rating Reaffirmed at HC Wainwright

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $90.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 7.64% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Guggenheim boosted their price objective on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $90.86.

Insmed Stock Down 0.3 %

INSM opened at $83.61 on Friday. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.28. 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 firm’s fifty day moving average price is $74.11 and its two-hundred day moving average price is $73.52. The company has a market capitalization of $14.96 billion, a P/E ratio of -15.06 and a beta of 1.11.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results 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). On average, analysts anticipate that Insmed will post -5.42 EPS for the current year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 6,172 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the transaction, the insider now owns 101,549 shares of the company’s stock, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 532,207 shares of company stock worth $41,400,465. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

A number of institutional investors and hedge funds have recently made changes to their positions in INSM. Darwin Global Management Ltd. increased its position in Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after buying an additional 2,463,261 shares during the period. Norges Bank acquired a new stake in Insmed in the fourth quarter valued at approximately $126,606,000. Vanguard Group Inc. boosted its position in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after buying an additional 1,075,796 shares during the last quarter. Vestal Point Capital LP lifted its holdings in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares during the period. Finally, Brown Advisory Inc. bought a new stake in Insmed in the 4th quarter valued at about $45,773,000.

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.