Insmed (NASDAQ:INSM) Upgraded to Strong-Buy at BMO Capital Markets

Insmed (NASDAQ:INSM) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

INSM has been the topic of several other reports. JPMorgan Chase & Co. dropped their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, June 8th. Barclays upped their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Stifel Nicolaus lifted their price objective on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Mizuho set a $192.00 target price on shares of Insmed in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company upped their target price on shares of Insmed from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $209.13.

Insmed Stock Performance

Shares of INSM stock opened at $108.62 on Monday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $105.64 and a two-hundred day moving average of $134.69. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a market cap of $23.54 billion, a P/E ratio of -18.89 and a beta of 0.78.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s revenue was up 229.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.42) earnings per share. As a group, analysts anticipate that Insmed will post -2.43 EPS for the current year.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03. Following the sale, the insider directly owned 41,613 shares in the company, valued at approximately $4,513,762.11. The trade was a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 54,590 shares of company stock worth $5,793,738. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC acquired a new stake in Insmed in the fourth quarter worth approximately $27,000. Reflection Asset Management acquired a new position in shares of Insmed during the 4th quarter valued at $30,000. GraniteShares Advisors LLC acquired a new position in shares of Insmed during the 4th quarter valued at $30,000. CIBC Private Wealth Group LLC raised its stake in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Insmed in the 4th quarter worth $32,000.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.