Insmed (NASDAQ:INSM) Receives Buy Rating from Guggenheim

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research report issued on Tuesday,Benzinga reports. They presently have a $101.00 price objective on the biopharmaceutical company’s stock. Guggenheim’s price objective points to a potential upside of 28.00% from the company’s previous close.

Other analysts have also issued reports about the stock. Truist Financial raised their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday. Royal Bank of Canada assumed coverage on Insmed in a research note on Tuesday. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley raised their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Insmed Stock Performance

Shares of NASDAQ:INSM traded down $1.13 during midday trading on Tuesday, hitting $78.91. The company’s stock had a trading volume of 238,851 shares, compared to its average volume of 1,887,479. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock’s 50 day simple moving average is $74.43 and its 200 day simple moving average is $73.67. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of -14.08 and a beta of 1.11. Insmed has a fifty-two week low of $21.92 and a fifty-two week high of $84.91.

Insmed (NASDAQ:INSM) last issued 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 business had revenue of $104.44 million for the quarter, compared to analyst estimates 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, research analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Activity

In related news, CFO Sara Bonstein sold 3,470 shares of Insmed stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the completion of the transaction, the chief financial officer now directly owns 114,736 shares of the company’s stock, valued at $7,538,155.20. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $27,079,091.58. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 532,207 shares of company stock worth $41,400,465. Insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI boosted its position in Insmed by 9.7% in the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 147 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the last quarter. Abel Hall LLC raised its position in shares of Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock valued at $230,000 after acquiring an additional 151 shares during the period. Snowden Capital Advisors LLC grew its holdings in Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 158 shares during the period. Finally, Commerce Bank boosted its position in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares in the last quarter.

Insmed Company Profile

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.