Mizuho Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price target increased by investment analysts at Mizuho from $130.00 to $165.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho’s price target would suggest a potential upside of 29.16% from the company’s current price.

A number of other analysts also recently issued reports on INSM. Royal Bank Of Canada lifted their price objective on Insmed from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. UBS Group reaffirmed a “buy” rating and issued a $133.00 price objective (up previously from $124.00) on shares of Insmed in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their price objective on Insmed from $90.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on Insmed from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, HC Wainwright lifted their price objective on Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.57.

Insmed Stock Up 4.0%

NASDAQ INSM opened at $127.75 on Wednesday. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed has a 12 month low of $60.40 and a 12 month high of $128.48. The stock’s 50 day moving average is $102.53 and its 200 day moving average is $83.54. The stock has a market cap of $27.00 billion, a PE ratio of -22.37 and a beta of 0.95.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%. The firm had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same period in the previous year, the firm earned ($1.94) EPS. The business’s revenue was up 18.9% compared to the same quarter last year. Research analysts predict that Insmed will post -4.56 EPS for the current fiscal year.

Insider Activity

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the transaction, the insider owned 89,407 shares of the company’s stock, valued at $8,352,401.94. This represents a 52.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 58,400 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $102.67, for a total value of $5,995,928.00. Following the completion of the transaction, the chief financial officer directly owned 73,505 shares in the company, valued at $7,546,758.35. This trade represents a 44.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,716 shares of company stock valued at $49,665,671. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of INSM. Darwin Global Management Ltd. grew its position in Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after acquiring an additional 2,463,261 shares during the last quarter. Norges Bank bought a new position in Insmed in the 2nd quarter valued at $194,728,000. Adage Capital Partners GP L.L.C. grew its position in Insmed by 109.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock valued at $262,967,000 after acquiring an additional 1,799,382 shares during the last quarter. Nuveen LLC bought a new position in Insmed in the 1st quarter valued at $88,351,000. Finally, Qube Research & Technologies Ltd bought a new position in Insmed in the 2nd quarter valued at $108,898,000.

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.