Insmed (NASDAQ:INSM) Sets New 52-Week High After Analyst Upgrade

Insmed, Inc. (NASDAQ:INSM) shares reached a new 52-week high on Thursday after TD Cowen raised their price target on the stock from $223.00 to $231.00. TD Cowen currently has a buy rating on the stock. Insmed traded as high as $205.11 and last traded at $203.56, with a volume of 1581485 shares changing hands. The stock had previously closed at $201.62.

A number of other brokerages have also weighed in on INSM. Cantor Fitzgerald started coverage on shares of Insmed in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $192.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Insmed from $111.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Cowen reiterated a “buy” rating on shares of Insmed in a research report on Thursday. UBS Group boosted their price target on Insmed from $194.00 to $223.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Mizuho set a $196.00 price objective on Insmed in a research note on Wednesday, October 29th. Nineteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.53.

Insider Buying and Selling

In other news, insider Michael Alexander Smith sold 27,130 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the completion of the transaction, the insider owned 54,902 shares of the company’s stock, valued at approximately $10,089,889.56. This trade represents a 33.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction on Friday, September 12th. The stock was sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the transaction, the director owned 262,675 shares in the company, valued at approximately $38,190,318.25. This trade represents a 3.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 252,922 shares of company stock valued at $43,533,383 over the last three months. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in INSM. Teachers Retirement System of The State of Kentucky bought a new position in shares of Insmed in the first quarter worth $975,000. Chung Wu Investment Group LLC bought a new position in Insmed in the 2nd quarter worth about $173,000. Caxton Associates LLP purchased a new stake in shares of Insmed in the 1st quarter valued at about $441,000. Assenagon Asset Management S.A. boosted its position in shares of Insmed by 84.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 73,404 shares of the biopharmaceutical company’s stock valued at $7,387,000 after acquiring an additional 33,626 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Insmed during the 2nd quarter valued at about $5,578,000.

Insmed Price Performance

The firm’s 50-day moving average is $167.74 and its 200-day moving average is $124.79. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $42.39 billion, a PE ratio of -34.81 and a beta of 1.05.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The business had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. Insmed’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period last year, the company posted ($1.27) EPS. Insmed has set its FY 2025 guidance at EPS. Equities analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insmed Company Profile

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.