Jefferies Financial Group Initiates Coverage on Insmed (NASDAQ:INSM)

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Insmed (NASDAQ:INSM) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $105.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 60.04% from the company’s current price.

Other analysts also recently issued reports about the company. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Morgan Stanley lifted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Truist Financial lifted their price objective on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, UBS Group reduced their price objective on Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.63.

Insmed Trading Down 0.2%

Shares of NASDAQ:INSM opened at $65.61 on Tuesday. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of -11.74 and a beta of 0.84. 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’s 50 day moving average price is $71.99 and its 200-day moving average price is $73.21.

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

Insiders Place Their Bets

In other Insmed news, CFO Sara Bonstein sold 18,322 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total value of $1,471,439.82. Following the transaction, the chief financial officer now owns 118,863 shares in the company, valued at $9,545,887.53. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at $27,079,091.58. This represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,232 shares of company stock valued at $6,868,473 in the last quarter. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its position in shares of Insmed by 164.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Insmed in the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC raised its stake in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 163 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of Insmed in the 4th quarter valued at about $47,000.

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.