Insmed (NASDAQ:INSM) Trading Up 6% – Still a Buy?

Insmed Incorporated (NASDAQ:INSM) shares rose 6% on Monday . The company traded as high as $69.41 and last traded at $69.16. Approximately 1,527,577 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 1,826,931 shares. The stock had previously closed at $65.25.

Analysts Set New Price Targets

A number of research firms recently commented on INSM. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Insmed Stock Performance

The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average is $71.23 and its two-hundred day moving average is $72.48. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of -12.65 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.10) earnings per share. Analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,094 shares of company stock worth $4,733,986. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in INSM. Geode Capital Management LLC grew its holdings in shares of Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the last quarter. Darwin Global Management Ltd. bought a new stake in Insmed in the second quarter valued at approximately $237,076,000. Principal Financial Group Inc. lifted its holdings in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after acquiring an additional 214,130 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares in the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter.

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.