Insmed Incorporated (NASDAQ:INSM – Get Rating) has been assigned an average rating of “moderate buy” by the eight rating agencies that currently cover the company, reports Marketbeat Ratings. One research analyst rated the stock with a hold recommendation and six gave the company a buy recommendation. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $50.86.
A number of stock analysts have recently released reports on INSM stocks. Credit Suisse Group raised its price target on Insmed to $58.00 in a Tuesday, August 9 research report. Goldman Sachs Group lowered its price target on Insmed from $56.00 to $48.00 and placed a “buy” rating on the stock in a Tuesday, May 24 research report. Finally, Morgan Stanley lowered its price target on Insmed from $46.00 to $41.00 and set an “overweight” rating on the stock in a Friday, July 15 research report.
Performance of Insmed shares
INSM stock opened at $24.83 on Friday. The company has a quick ratio of 5.34, a current ratio of 5.93 and a debt ratio of 18.24. The company’s fifty-day simple moving average is $24.31 and its two-hundred-day simple moving average is $22.53. Insmed has a 12-month low of $16.41 and a 12-month high of $34.44. The company has a market capitalization of $2.98 billion, a price-earnings ratio of -7.07 and a beta of 1.83.
Insmed (NASDAQ:INSM – Get Rating) last released its results on Thursday, August 4. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, beating analyst consensus estimates of ($0.89) by $0.09. Insmed had a negative return on equity of 154.14% and a negative net margin of 188.04%. The company posted revenue of $65.20 million for the quarter, versus analyst estimates of $58.92 million. In the same quarter last year, the company posted ($0.94) earnings per share. The company’s revenues increased by 43.6% compared to the same quarter last year. Analysts predict Insmed will post -3.4 earnings per share for the current year.
Insider activity at Insmed
Separately, CEO William Lewis sold 96,614 shares of the company in a trade dated Thursday, July 7. The stock was sold at an average price of $23.00, for a total transaction of $2,222,122.00. Following the sale, the CEO now owns 256,716 shares of the company, valued at $5,904,468. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Insiders sold a total of 314,355 shares of the company valued at $8,279,853 during the last quarter. 4.63% of the shares are held by company insiders.
Institutional investors weigh in on Insmed
Institutional investors have recently increased or reduced their stake in the stock. ExodusPoint Capital Management LP acquired a new stake in Insmed in the second quarter worth approximately $304,000. Walleye Capital LLC increased its holdings in Insmed by 16.2% in the second quarter. Walleye Capital LLC now owns 124,285 shares of the biopharmaceutical company worth $2,451,000 after acquiring 17,323 additional shares last quarter. Price T Rowe Associates Inc. MD increased its holdings in Insmed by 2.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,222,623 shares of the biopharmaceutical company worth $319,910,000 after acquiring 364,362 additional shares last quarter. Occudo Quantitative Strategies LP acquired a new stake in Insmed in the second quarter worth approximately $222,000. Finally, Cubist Systematic Strategies LLC increased its stake in Insmed by 474.9% in the second quarter. Cubist Systematic Strategies LLC now owns 50,173 shares of the biopharmaceutical company worth $989,000 after acquiring 41,446 additional shares last quarter.
Insmed company profile
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Insmed Incorporated is a global biopharmaceutical company whose mission is 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 antibacterial therapy combined for adult patients with limited or no alternative treatment. options.
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