Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Insmed (NASDAQ:INSM) had its price target boosted by investment analysts at Morgan Stanley from $102.00 to $108.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential upside of 5.30% from the stock’s previous close.

A number of other brokerages have also recently commented on INSM. Leerink Partners lifted their target price on shares of Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Mizuho upped their target price on shares of Insmed from $96.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Insmed in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their price target on Insmed from $107.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Finally, Citigroup raised Insmed to a “buy” rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.47.

Insmed Price Performance

Shares of INSM opened at $102.56 on Thursday. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. Insmed has a 1-year low of $60.40 and a 1-year high of $106.83. The stock has a market cap of $19.46 billion, a PE ratio of -17.24 and a beta of 0.90. The firm has a fifty day moving average price of $86.93 and a 200 day moving average price of $78.50.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The firm had revenue of $92.82 million during the quarter, compared to analysts’ expectations of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.06) earnings per share. As a group, sell-side analysts anticipate that Insmed will post -4.56 EPS for the current year.

Insider Activity

In other news, Director David W. J. Mcgirr sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $73.27, for a total transaction of $219,810.00. Following the sale, the director owned 97,723 shares of the company’s stock, valued at $7,160,164.21. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $102.37, for a total value of $699,187.10. Following the transaction, the chief executive officer directly owned 233,924 shares of the company’s stock, valued at approximately $23,946,799.88. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 548,197 shares of company stock valued at $49,124,834 in the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of Insmed by 65.2% in the fourth 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 in the last quarter. Proficio Capital Partners LLC purchased a new stake in Insmed in the 4th quarter valued at approximately $1,864,000. Avantax Advisory Services Inc. grew its holdings in Insmed by 19.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,967 shares of the biopharmaceutical company’s stock valued at $619,000 after buying an additional 1,486 shares during the last quarter. Natixis Advisors LLC increased its position in Insmed by 2.1% during the fourth quarter. Natixis Advisors LLC now owns 21,325 shares of the biopharmaceutical company’s stock worth $1,472,000 after buying an additional 431 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Insmed by 3.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,314 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 225 shares in the last quarter.

Insmed Company Profile

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.