Insmed (NASDAQ:INSM) Raised to “Strong-Buy” at BMO Capital Markets

Insmed (NASDAQ:INSM) was upgraded by analysts at BMO Capital Markets to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on INSM. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $220.00 price target on shares of Insmed in a research note on Monday. JPMorgan Chase & Co. cut their price target on Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Stifel Nicolaus lifted their price target on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Insmed currently has a consensus rating of “Buy” and an average target price of $209.13.

Insmed Price Performance

NASDAQ INSM opened at $108.62 on Monday. The company’s 50 day simple moving average is $105.64 and its 200 day simple moving average is $134.69. The firm has a market capitalization of $23.54 billion, a PE ratio of -18.89 and a beta of 0.78. Insmed has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the previous year, the company posted ($1.42) EPS. Insmed’s revenue was up 229.7% on a year-over-year basis. As a group, equities research analysts forecast that Insmed will post -2.43 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the transaction, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 6,149 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the sale, the insider directly owned 41,613 shares of the company’s stock, valued at $4,513,762.11. This represents a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 54,590 shares of company stock valued at $5,793,738. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Insmed by 10.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares during the last quarter. ORG Partners LLC raised its stake in shares of Insmed by 12.7% in the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Insmed by 1.8% during the first quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock worth $777,000 after purchasing an additional 82 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Insmed by 5.4% during the first quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 98 shares in the last quarter.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.