Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Leerink Partners Analyst Says

Insmed (NASDAQ:INSM) had its price objective upped by investment analysts at Leerink Partners from $100.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Partners’ target price would indicate a potential upside of 26.46% from the stock’s previous close.

INSM has been the topic of a number of other reports. Truist Financial increased their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. UBS Group reduced their price target on shares of Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Citigroup raised Insmed to a “buy” rating in a report on Tuesday. Finally, Guggenheim reissued a “buy” rating and set a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.93.

Insmed Trading Up 28.7%

Shares of NASDAQ INSM traded up $20.26 during midday trading on Tuesday, reaching $90.94. The company had a trading volume of 13,927,333 shares, compared to its average volume of 2,126,418. The stock has a market cap of $16.56 billion, a PE ratio of -16.27 and a beta of 0.80. Insmed has a one year low of $56.03 and a one year high of $91.47. The firm’s fifty day moving average price is $69.23 and its 200-day moving average price is $73.01. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The company had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Insmed’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm earned ($1.06) earnings per share. On average, equities research analysts anticipate that Insmed will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 9,925 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total transaction of $649,789.75. Following the sale, the insider now owns 86,596 shares of the company’s stock, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total transaction of $1,444,312.50. Following the completion of the transaction, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $25,742,347.58. This represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,994 shares of company stock valued at $11,320,938 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. boosted its holdings in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP acquired a new position in Insmed during the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC boosted its holdings in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its position in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 248 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Insmed during the 1st quarter valued at about $49,000.

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.