Insmed, Inc. (NASDAQ:INSM) Receives $205.52 Average Price Target from Analysts

Shares of Insmed, Inc. (NASDAQ:INSM) have received an average recommendation of “Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $205.5217.

Several research analysts have issued reports on the company. Truist Financial restated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Insmed in a research report on Monday, August 10th. Roth Capital reissued a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Guggenheim dropped their price objective on Insmed from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Friday, July 17th. Finally, Wells Fargo & Company upped their price target on shares of Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th.

Insmed Stock Down 0.3%

INSM opened at $126.29 on Monday. The stock has a market capitalization of $27.58 billion, a price-to-earnings ratio of -30.73 and a beta of 0.82. The firm has a 50 day moving average price of $115.86 and a 200-day moving average price of $125.22. Insmed has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.61. The business had revenue of $425.49 million for the quarter, compared to analysts’ expectations of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The company’s revenue was up 296.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.70) EPS. Equities research analysts forecast that Insmed will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer owned 259,058 shares of the company’s stock, valued at $30,413,409.20. The trade was a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 239,850 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at approximately $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 273,753 shares of company stock worth $35,604,764 in the last three months. 2.10% of the stock is owned by insiders.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently made changes to their positions in INSM. California State Teachers Retirement System raised its stake in Insmed by 10,618.8% in the 2nd quarter. California State Teachers Retirement System now owns 32,497,563 shares of the biopharmaceutical company’s stock valued at $3,464,890,000 after purchasing an additional 32,194,381 shares during the last quarter. Norges Bank acquired a new stake in Insmed during the 4th quarter worth $506,625,000. RTW Investments LP boosted its stake in Insmed by 57.0% during the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Insmed during the second quarter worth $153,389,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Insmed during the second quarter worth $139,966,000.

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.