Insmed’s (INSM) “Buy” Rating Reaffirmed at HC Wainwright

Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $90.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 38.29% from the company’s current price.

Several other research firms have also issued reports on INSM. Bank of America increased their target price on Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Stifel Nicolaus dropped their target price on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Insmed in a research report on Wednesday, March 19th. JPMorgan Chase & Co. raised their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.93.

Insmed Price Performance

Insmed stock opened at $65.08 on Monday. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $11.83 billion, a P/E ratio of -11.64 and a beta of 0.84. The business has a 50-day moving average of $72.37 and a 200-day moving average of $73.28.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data 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). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the prior year, the company earned ($1.06) EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 6,830 shares of the business’s 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 sale, the chief executive officer now directly owns 233,924 shares of the company’s stock, valued at $16,412,107.84. The trade was a 2.84% 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, CFO Sara Bonstein sold 13,302 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total value of $1,064,160.00. Following the transaction, the chief financial officer now directly owns 142,204 shares in the company, valued at approximately $11,376,320. This represents a 8.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,534 shares of company stock valued at $7,932,633 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its holdings in Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 221 shares during the period. Elequin Capital LP acquired a new stake in Insmed during the 4th quarter worth about $28,000. Steward Partners Investment Advisory LLC grew its position in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the period. V Square Quantitative Management LLC grew its position in shares of 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 during the period. Finally, Spire Wealth Management acquired a new stake in shares of Insmed during the 4th quarter valued at about $47,000.

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.