Insmed (NASDAQ:INSM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Insmed (NASDAQ:INSM) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Guggenheim restated a “buy” rating and issued a $207.00 target price on shares of Insmed in a research report on Friday, July 10th. Leerink Partners boosted their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Mizuho set a $192.00 target price on shares of Insmed in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $209.13.

Insmed Stock Down 1.8%

INSM opened at $106.64 on Monday. Insmed has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $105.41 and a 200 day moving average price of $134.22. The company has a market cap of $23.11 billion, a PE ratio of -18.55 and a beta of 0.78.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the company posted ($1.42) EPS. Insmed’s quarterly revenue was up 229.7% compared to the same quarter last year. Sell-side analysts expect that Insmed will post -2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the sale, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the sale, the chief executive officer owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,590 shares of company stock worth $5,793,738 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. iA Global Asset Management Inc. raised its holdings in Insmed by 15,973.5% in the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after acquiring an additional 26,516 shares in the last quarter. Monashee Investment Management LLC purchased a new position in Insmed in the fourth quarter worth approximately $8,702,000. Nordea Investment Management AB acquired a new position in Insmed during the 4th quarter worth approximately $3,492,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Insmed by 89.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,308 shares of the biopharmaceutical company’s stock worth $17,981,000 after acquiring an additional 48,779 shares in the last quarter. Finally, Aberdeen Group plc increased its position in shares of Insmed by 7.9% in the 4th quarter. Aberdeen Group plc now owns 253,112 shares of the biopharmaceutical company’s stock valued at $44,052,000 after purchasing an additional 18,490 shares during the last quarter.

Insmed Company Profile

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.