Insmed (NASDAQ:INSM) Earns “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reiterated their outperform rating on shares of Insmed (NASDAQ:INSM – Get Rating) in a research note issued to investors on Friday morning, Benzinga reports. Credit Suisse Group currently has a $46.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho initiated coverage on Insmed in a research note on Thursday, December 8th. They issued a buy rating and a $28.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Insmed from $44.00 to $39.00 and set a buy rating on the stock in a research report on Monday, January 9th. Cantor Fitzgerald dropped their price target on shares of Insmed from $49.00 to $46.00 and set an overweight rating on the stock in a research report on Friday. SVB Leerink lowered their price objective on shares of Insmed from $52.00 to $50.00 and set an outperform rating for the company in a research note on Thursday, October 27th. Finally, Bank of America initiated coverage on shares of Insmed in a research note on Friday, November 18th. They issued a buy rating and a $39.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $43.33.

Insmed Price Performance

Insmed stock opened at $20.09 on Friday. The company has a current ratio of 6.69, a quick ratio of 6.33 and a debt-to-equity ratio of 13.13. The company has a market capitalization of $2.74 billion, a PE ratio of -5.15 and a beta of 1.56. Insmed has a 12 month low of $16.41 and a 12 month high of $28.94. The stock has a 50-day moving average price of $20.05 and a two-hundred day moving average price of $20.90.

Insider Buying and Selling

In related news, COO Roger Adsett sold 3,044 shares of the business’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $19.75, for a total value of $60,119.00. Following the transaction, the chief operating officer now directly owns 131,083 shares of the company’s stock, valued at approximately $2,588,889.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William Lewis sold 7,008 shares of the company’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $19.80, for a total transaction of $138,758.40. Following the sale, the chief executive officer now directly owns 249,708 shares in the company, valued at $4,944,218.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Roger Adsett sold 3,044 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $19.75, for a total value of $60,119.00. Following the sale, the chief operating officer now owns 131,083 shares in the company, valued at $2,588,889.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,592 shares of company stock valued at $518,005. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc increased its position in shares of Insmed by 261.3% in the second quarter. Ensign Peak Advisors Inc now owns 161,697 shares of the biopharmaceutical company’s stock worth $3,188,000 after purchasing an additional 116,937 shares during the last quarter. Peregrine Capital Management LLC grew its position in Insmed by 9.7% during the third quarter. Peregrine Capital Management LLC now owns 361,603 shares of the biopharmaceutical company’s stock valued at $7,789,000 after acquiring an additional 31,915 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in Insmed during the third quarter valued at approximately $442,000. Ergoteles LLC grew its position in Insmed by 397.8% during the third quarter. Ergoteles LLC now owns 115,121 shares of the biopharmaceutical company’s stock valued at $2,480,000 after acquiring an additional 91,996 shares during the last quarter. Finally, PDT Partners LLC bought a new position in Insmed during the third quarter valued at approximately $1,911,000. 92.83% of the stock is currently owned by institutional investors.

Insmed Company Profile

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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.