Insmed (NASDAQ:INSM) Stock Keeps Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Insmed (NASDAQ:INSM) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $220.00 price target on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other reports. JPMorgan Chase & Co. cut their target price on Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Evercore restated an “outperform” rating and issued a $170.00 price target on shares of Insmed in a research report on Friday, August 7th. Mizuho set a $192.00 price target on Insmed in a research note on Tuesday, June 16th. Guggenheim dropped their price target on Insmed from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Insmed in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average target price of $200.30.

Insmed Trading Down 2.0%

Shares of INSM stock opened at $98.56 on Monday. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74. The stock has a market cap of $21.52 billion, a P/E ratio of -23.98 and a beta of 0.83. The stock has a 50 day simple moving average of $120.20 and a 200 day simple moving average of $119.46. Insmed has a 1 year low of $90.39 and a 1 year high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%. The business had revenue of $425.49 million for the quarter, compared to the consensus estimate of $395.50 million. During the same quarter in the prior year, the business posted ($1.70) earnings per share. The firm’s quarterly revenue was up 296.1% compared to the same quarter last year. On average, research analysts predict that Insmed will post -1.84 earnings per share for the current fiscal year.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at $13,159,612.88. This trade represents a 70.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Brennan sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the transaction, the director owned 39,238 shares of the company’s stock, valued at approximately $4,865,512. This represents a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently modified their holdings of the business. Reflection Asset Management bought a new position in Insmed in the 4th quarter valued at approximately $30,000. CX Institutional acquired a new stake in Insmed during the 3rd quarter worth approximately $46,000. Whittier Trust Co. of Nevada Inc. boosted its position in Insmed by 86.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 444 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 206 shares during the period. Harbor Investment Advisory LLC bought a new stake in Insmed during the 2nd quarter worth approximately $52,000. Finally, Versant Capital Management Inc grew its holdings in Insmed by 118.9% during the 3rd quarter. Versant Capital Management Inc now owns 648 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 352 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious and rare diseases. The company’s research and development activities center on pulmonary and inflammatory conditions, with an emphasis on diseases that have limited treatment options.

Insmed’s principal commercial product is ARIKAYCE liposomal, an inhaled formulation of amikacin used with a combination antibacterial regimen to treat refractory Mycobacterium avium complex lung disease in certain adult patients.