Insmed (NASDAQ:INSM) Trading 4.5% Higher Following Analyst Upgrade

Insmed Incorporated (NASDAQ:INSM) shares traded up 4.5% during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $107.00 to $119.00. Wells Fargo & Company currently has an overweight rating on the stock. Insmed traded as high as $93.82 and last traded at $95.02. 1,501,338 shares changed hands during trading, a decline of 29% from the average session volume of 2,120,273 shares. The stock had previously closed at $90.93.

Several other analysts also recently weighed in on INSM. Leerink Partners raised their target price on Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. UBS Group dropped their price objective on Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Guggenheim reiterated a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Finally, Bank of America raised their price target on shares of Insmed from $94.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.60.

Insider Activity

In related news, insider Michael Alexander Smith sold 1,879 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. This represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 162,994 shares of company stock valued at $11,320,938. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Insmed during the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC boosted its position in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the period. V Square Quantitative Management LLC grew its holdings in Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Insmed in the 1st quarter valued at approximately $49,000.

Insmed Trading Up 4.6%

The firm has a 50-day moving average of $69.58 and a 200 day moving average of $73.14. 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 stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of -17.09 and a beta of 0.80.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period last year, the business posted ($1.06) earnings per share. Insmed’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts predict that Insmed Incorporated will post -4.56 EPS 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.