Insmed (NASDAQ:INSM) Sets New 52-Week High – Time to Buy?

Insmed Incorporated (NASDAQ:INSM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $100.00 and last traded at $99.52, with a volume of 444591 shares. The stock had previously closed at $98.73.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on INSM shares. Guggenheim restated a “buy” rating and set a $101.00 price objective on shares of Insmed in a report on Tuesday, February 25th. HC Wainwright lifted their price target on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Bank of America raised their price objective on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. 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 research report on Tuesday, June 10th. Finally, UBS Group lowered their target price on shares of Insmed from $110.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.81.

Insmed Price Performance

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 50 day moving average of $71.41 and a 200-day moving average of $73.59. The stock has a market capitalization of $18.36 billion, a P/E ratio of -18.03 and a beta of 0.80.

Insmed (NASDAQ:INSM) last announced its quarterly 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). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. During the same quarter in the previous year, the firm posted ($1.06) EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 8,870 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total value of $601,474.70. Following the sale, the chief financial officer now owns 109,993 shares in the company, valued at $7,458,625.33. This represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $72.57, for a total transaction of $495,653.10. Following the completion of the transaction, the chief executive officer now directly owns 233,924 shares of the company’s stock, valued at $16,975,864.68. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,182 shares of company stock valued at $24,289,380 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently modified their holdings of INSM. Darwin Global Management Ltd. raised its holdings in shares of Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after acquiring an additional 2,463,261 shares during the period. Norges Bank acquired a new stake in shares of Insmed during the 4th quarter worth approximately $126,606,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Insmed by 109.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock worth $262,967,000 after buying an additional 1,799,382 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Insmed during the 1st quarter valued at approximately $88,351,000. Finally, Vanguard Group Inc. lifted its holdings in Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares during the last quarter.

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.