Insmed (NASDAQ:INSM) Shares Up 6.3% on Analyst Upgrade

Insmed, Inc. (NASDAQ:INSM)’s share price traded up 6.3% during mid-day trading on Monday after Morgan Stanley upgraded the stock from an equal weight rating to an overweight rating. Morgan Stanley now has a $212.00 price target on the stock, up from their previous price target of $166.00. Insmed traded as high as $155.20 and last traded at $154.4440. 752,270 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 2,467,938 shares. The stock had previously closed at $145.30.

Other equities research analysts also recently issued research reports about the stock. Truist Financial set a $205.00 price target on shares of Insmed in a research report on Monday, January 12th. Leerink Partners upped their price objective on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, March 24th. HC Wainwright increased their target price on Insmed from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. TD Cowen set a $241.00 target price on Insmed in a report on Thursday, December 18th. Finally, UBS Group reduced their target price on Insmed from $223.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Buy” and an average target price of $212.38.

Insider Activity at Insmed

In other news, CFO Sara Bonstein sold 748 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total transaction of $116,942.32. Following the completion of the transaction, the chief financial officer directly owned 79,758 shares of the company’s stock, valued at $12,469,365.72. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total transaction of $1,535,520.48. Following the transaction, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,226,071.20. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 189,651 shares of company stock valued at $31,533,654. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Insmed during the 4th quarter valued at about $27,000. Stone House Investment Management LLC bought a new stake in shares of Insmed during the 3rd quarter valued at about $29,000. SBI Securities Co. Ltd. increased its position in shares of Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Insmed during the 4th quarter valued at about $30,000.

Insmed Stock Up 5.5%

The company’s 50 day moving average price is $149.97 and its two-hundred day moving average price is $166.30. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $33.05 billion, a P/E ratio of -23.92 and a beta of 1.13.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. During the same quarter last year, the firm posted ($1.32) earnings per share. The business’s quarterly revenue was up 152.6% compared to the same quarter last year. Equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

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.