Insmed (NASDAQ:INSM) Upgraded to “Strong-Buy” at BMO Capital Markets

Insmed (NASDAQ:INSM) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. HC Wainwright reiterated a “buy” rating and set a $220.00 price objective on shares of Insmed in a research report on Monday. Raymond James Financial assumed coverage on Insmed in a research note on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective for the company. Truist Financial decreased their target price on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Stifel Nicolaus boosted their target price on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $209.13.

Insmed Stock Performance

NASDAQ:INSM opened at $108.62 on Monday. The company has a 50-day moving average of $105.64 and a 200-day moving average of $134.69. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of -18.89 and a beta of 0.78. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed has a twelve month low of $90.39 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period in the previous year, the firm earned ($1.42) EPS. The business’s revenue for the quarter was up 229.7% on a year-over-year basis. Analysts forecast that Insmed will post -2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Roger Adsett sold 2,370 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the sale, the chief operating officer owned 98,603 shares in the company, valued at $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the sale, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,590 shares of company stock worth $5,793,738 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its holdings in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the period. EverSource Wealth Advisors LLC increased its stake in Insmed by 10.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 69 shares during the period. ORG Partners LLC raised its position in Insmed by 12.7% in the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 74 shares in the last quarter. Private Advisor Group LLC raised its position in Insmed by 1.8% in the first quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock worth $777,000 after purchasing an additional 82 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Insmed by 5.4% during the first quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 98 shares during the period.

About Insmed

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.