Insmed (NASDAQ:INSM) Now Covered by Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $100.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the stock. Guggenheim boosted their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Truist Financial increased their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Insmed Stock Down 3.2 %

Shares of Insmed stock opened at $77.50 on Tuesday. The company has a market capitalization of $13.86 billion, a P/E ratio of -13.86 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business has a 50-day moving average of $74.43 and a two-hundred day moving average of $73.67. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts predict that Insmed will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares of the company’s stock, valued at $7,766,640. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock worth $41,400,465 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in INSM. Mackenzie Financial Corp boosted its stake in Insmed by 12.5% in the 4th quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 1,213 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Insmed in the fourth quarter valued at about $259,000. Fourth Dimension Wealth LLC acquired a new position in shares of Insmed in the fourth quarter valued at about $278,000. Vise Technologies Inc. increased its position in Insmed by 6.3% during the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock worth $389,000 after acquiring an additional 336 shares during the period. Finally, Castleark Management LLC raised its stake in Insmed by 21.9% in the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock worth $3,644,000 after purchasing an additional 9,480 shares in the last quarter.

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.