Insmed (NASDAQ:INSM) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Friday,Benzinga reports. They currently have a $207.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on INSM. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Wednesday, June 10th. Raymond James Financial initiated coverage on Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 target price for the company. Leerink Partners raised their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. Finally, Barclays boosted their price objective on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.00.

Insmed Trading Down 2.2%

INSM traded down $2.65 during trading on Friday, hitting $115.61. 2,931,490 shares of the stock traded hands, compared to its average volume of 4,102,796. The firm has a market capitalization of $25.06 billion, a P/E ratio of -20.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm has a 50-day moving average of $107.21 and a 200 day moving average of $138.27. Insmed has a 12-month low of $90.39 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.42) earnings per share. Equities research analysts anticipate that Insmed will post -2.55 EPS for the current year.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares of the company’s stock, valued at $30,413,409.20. This represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,289 shares of company stock valued at $7,334,073 in the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC bought a new position in shares of Insmed during the fourth quarter valued at approximately $27,000. Reflection Asset Management bought a new stake in shares of Insmed in the 4th quarter worth approximately $30,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter worth approximately $30,000. CIBC Private Wealth Group LLC grew 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 during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Insmed during the 4th quarter valued at approximately $32,000.

Insmed Company Profile

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.