Insmed (NASDAQ:INSM) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $100.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the stock. Wells Fargo & Company raised their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Guggenheim restated a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, UBS Group upped their price objective on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.33.

Insmed Stock Up 2.5 %

NASDAQ INSM opened at $78.94 on Wednesday. The company has a market cap of $14.29 billion, a price-to-earnings ratio of -14.12 and a beta of 1.28. Insmed has a 1-year low of $21.92 and a 1-year high of $84.91. 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 company has a 50 day moving average of $76.88 and a 200-day moving average of $73.74.

Insmed (NASDAQ:INSM) last released its 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). The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. On average, equities research analysts expect that Insmed will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the transaction, the chief executive officer now owns 334,186 shares in the company, valued at approximately $25,742,347.58. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the stock in a transaction 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 sale, the insider now owns 101,549 shares of the company’s stock, valued at $6,462,578.36. The trade was a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 550,957 shares of company stock valued at $42,992,528 in the last ninety days. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in INSM. Jennison Associates LLC increased its position in Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after purchasing an additional 4,560 shares during the period. Capital CS Group LLC acquired a new stake in shares of Insmed during the fourth quarter worth $586,000. Orion Portfolio Solutions LLC increased its position in shares of Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 9,170 shares during the period. Ally Bridge Group NY LLC raised its stake in Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after buying an additional 21,833 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in 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 buying an additional 850,000 shares during the period.

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.