Analysts Set Insmed Incorporated (NASDAQ:INSM) PT at $96.73

Insmed Incorporated (NASDAQ:INSM) has earned a consensus rating of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. Seventeen research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $98.93.

Several research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Bank of America lifted their price objective on shares of Insmed from $92.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Leerink Partners boosted their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial upped their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total transaction of $479,192.80. Following the transaction, the chief executive officer now directly owns 233,924 shares in the company, valued at approximately $16,412,107.84. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Alexander Smith sold 1,879 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $73.50, for a total value of $138,106.50. Following the transaction, the insider now owns 67,718 shares in the company, valued at $4,977,273. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,994 shares of company stock worth $11,320,938 in the last quarter. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Insmed

Large investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in Insmed by 164.9% during 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 in the last quarter. Elequin Capital LP bought a new position in Insmed during the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC lifted its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 163 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 248 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Insmed during the 4th quarter valued at $47,000.

Insmed Trading Up 28.7%

Shares of INSM stock opened at $90.93 on Friday. Insmed has a 52-week low of $57.92 and a 52-week high of $94.97. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of -16.27 and a beta of 0.80. 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 firm has a fifty day moving average of $69.58 and a 200-day moving average of $73.14.

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

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.