Insmed (NASDAQ:INSM) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of Insmed (NASDAQ:INSM) from an equal weight rating to an overweight rating in a research note published on Monday morning, MarketBeat reports. They currently have $212.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $166.00.

A number of other equities research analysts have also commented on the company. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Citigroup reiterated an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Cantor Fitzgerald increased their price target on shares of Insmed from $216.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Truist Financial set a $205.00 price target on shares of Insmed in a report on Monday, January 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of Insmed from $197.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Insmed has a consensus rating of “Buy” and an average target price of $212.38.

Insmed Price Performance

INSM opened at $153.32 on Monday. The stock has a fifty day moving average of $149.97 and a 200-day moving average of $166.30. The firm has a market capitalization of $33.05 billion, a P/E ratio of -23.92 and a beta of 1.13. Insmed has a 12-month low of $60.40 and a 12-month high of $212.75. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM) last issued its earnings results 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 return on equity of 168.36% and a negative net margin of 210.54%.The business’s quarterly revenue was up 152.6% on a year-over-year basis. During the same period last year, the business earned ($1.32) EPS. Equities analysts forecast that Insmed will post -4.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer directly owned 306,891 shares of the company’s stock, valued at $51,864,579. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of Insmed stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $175.20, for a total value of $15,293,208.00. Following the sale, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 189,651 shares of company stock worth $31,533,654. Insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

A number of institutional investors have recently added to or reduced their stakes in INSM. Choreo LLC bought a new position in shares of Insmed during the 2nd quarter valued at $227,000. State Board of Administration of Florida Retirement System boosted its holdings in Insmed by 245.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 130,165 shares of the biopharmaceutical company’s stock worth $13,100,000 after purchasing an additional 92,533 shares in the last quarter. Norges Bank bought a new stake in Insmed in the second quarter worth $194,728,000. New York State Common Retirement Fund increased its position in Insmed by 20.2% during the second quarter. New York State Common Retirement Fund now owns 427,753 shares of the biopharmaceutical company’s stock worth $43,049,000 after buying an additional 72,031 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Insmed during the second quarter worth $429,000.

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.