Insmed (NASDAQ:INSM) Now Covered by Analysts at Royal Bank of Canada

Investment analysts at Royal Bank of Canada started coverage on shares of Insmed (NASDAQ:INSM) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $100.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 24.95% from the stock’s current price.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Truist Financial upped their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Guggenheim upped their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $91.60.

Insmed Price Performance

Insmed stock opened at $80.03 on Tuesday. Insmed has a one year low of $21.92 and a one year high of $84.91. The business has a fifty day moving average price of $74.43 and a 200-day moving average price of $73.67. 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 has a market capitalization of $14.32 billion, a P/E ratio of -14.32 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) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, equities research analysts forecast that Insmed will post -4.56 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the sale, the insider now owns 97,083 shares in the company, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 532,207 shares of company stock worth $41,400,465. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently modified their holdings of the business. Darwin Global Management Ltd. grew its holdings in shares of Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after acquiring an additional 2,463,261 shares during the period. Norges Bank purchased a new position in Insmed during the fourth quarter valued at $126,606,000. Vanguard Group Inc. lifted its position in 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 purchasing an additional 1,075,796 shares in the last quarter. Vestal Point Capital LP lifted its position 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 valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in Insmed during the fourth quarter valued at $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.