Insmed (NASDAQ:INSM) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Insmed (NASDAQ:INSM) in a research report report published on Monday morning,Benzinga reports. HC Wainwright currently has a $230.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also commented on INSM. Barclays began coverage on shares of Insmed in a report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price target for the company. Guggenheim dropped their target price on shares of Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Royal Bank Of Canada boosted their target price on shares of Insmed from $197.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Mizuho set a $211.00 price target on shares of Insmed in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on Insmed from $234.00 to $208.00 and set an “overweight” rating on the stock in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Insmed presently has an average rating of “Buy” and an average target price of $207.86.

Insmed Stock Performance

NASDAQ INSM opened at $159.03 on Monday. The stock has a market capitalization of $34.28 billion, a price-to-earnings ratio of -24.81 and a beta of 1.11. The stock has a 50-day moving average of $164.37 and a 200 day moving average of $164.24. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. Insmed has a twelve month low of $60.40 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.32) earnings per share. Sell-side analysts anticipate that Insmed will post -4.56 EPS for the current fiscal year.

Insider Activity

In related news, CEO William Lewis sold 19,215 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at approximately $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the sale, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. The trade was a 67.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 178,952 shares of company stock worth $30,222,170. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D grew its holdings in Insmed by 8.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 64,097 shares of the biopharmaceutical company’s stock valued at $6,451,000 after buying an additional 5,027 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Insmed by 7.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,374 shares of the biopharmaceutical company’s stock valued at $2,151,000 after purchasing an additional 1,439 shares during the period. Envestnet Asset Management Inc. increased its position in Insmed by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 365,827 shares of the biopharmaceutical company’s stock worth $36,817,000 after purchasing an additional 40,520 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Insmed during the second quarter worth about $22,574,000. Finally, Teacher Retirement System of Texas boosted its holdings in Insmed by 7.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 49,013 shares of the biopharmaceutical company’s stock valued at $4,933,000 after purchasing an additional 3,330 shares during the last quarter.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.