Insmed (NASDAQ:INSM) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Insmed (NASDAQ:INSM) from an equal weight rating to an overweight rating in a research note published on Monday, MarketBeat.com reports. The firm currently has $212.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $166.00.

Several other equities analysts have also issued reports on INSM. The Goldman Sachs Group boosted their price target on shares of Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a report on Monday, December 15th. Wells Fargo & Company reduced their target price on Insmed from $208.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday, March 23rd. Barclays began coverage on Insmed in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 target price for the company. Leerink Partners increased their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald raised their price target on Insmed from $216.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $212.67.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $164.86 on Monday. The firm’s 50 day simple moving average is $150.14 and its 200 day simple moving average is $166.41. Insmed has a fifty-two week low of $60.40 and a fifty-two week high of $212.75. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of -25.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 3.54.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm’s revenue for the quarter was up 152.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.32) EPS. As a group, sell-side analysts forecast that Insmed will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 640 shares of Insmed stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total value of $100,012.80. Following the sale, the insider owned 56,397 shares of the company’s stock, valued at $8,813,159.19. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the completion of the sale, the chief executive officer directly owned 301,185 shares in the company, valued at $43,226,071.20. This represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 189,651 shares of company stock valued at $31,533,654. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 53 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Insmed by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 60 shares in the last quarter. Choreo LLC boosted its position in Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares during the last quarter. Finally, ORG Partners LLC grew its stake in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares in the last quarter.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.