Cantor Fitzgerald Reiterates "Overweight" Rating for Insmed (NASDAQ:INSM)

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. Cantor Fitzgerald also issued estimates for Insmed's FY2024 earnings at ($5.41) EPS.

INSM has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Truist Financial reissued a "buy" rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Guggenheim increased their price target on Insmed from $95.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Insmed Price Performance

INSM traded down $2.55 during trading on Wednesday, reaching $81.06. 2,695,739 shares of the stock were exchanged, compared to its average volume of 1,924,673. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business's 50 day moving average price is $74.11 and its two-hundred day moving average price is $73.52.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. As a group, equities research analysts anticipate that Insmed will post -5.42 earnings per share for the current year.

Insider Activity

In related news, CEO William Lewis sold 2,978 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.36, for a total transaction of $188,686.08. Following the sale, the chief executive officer now directly owns 392,589 shares in the company, valued at approximately $24,874,439.04. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the sale, the chief financial officer now owns 118,863 shares in the company, valued at $9,545,887.53. This represents a 13.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 532,207 shares of company stock valued at $41,400,465. Company insiders own 4.60% of the company's stock.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the last quarter. Darwin Global Management Ltd. raised its holdings in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after acquiring an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Insmed by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock valued at $877,113,000 after acquiring an additional 123,429 shares in the last quarter. Capital International Investors boosted its stake in Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after acquiring an additional 593,206 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock worth $282,243,000 after acquiring an additional 273,759 shares in the last quarter.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission 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 a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.