Insmed (NASDAQ:INSM) Receives Outperform Rating from Royal Bank of Canada

Insmed (NASDAQ:INSM - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $100.00 target price on the biopharmaceutical company's stock. Royal Bank of Canada's target price would suggest a potential upside of 25.13% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Truist Financial raised their target price on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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Insmed Trading Up 1.5 %

Shares of NASDAQ INSM traded up $1.15 during mid-day trading on Wednesday, reaching $79.92. 1,928,336 shares of the company's stock were exchanged, compared to its average volume of 2,182,816. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of -14.30 and a beta of 1.28. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed has a 52-week low of $21.92 and a 52-week high of $84.91. The company's 50-day moving average is $77.43 and its 200-day moving average is $73.79.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analysts' expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. Analysts expect that Insmed will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 1,066 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.72, for a total value of $67,925.52. Following the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 2,978 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the transaction, the chief executive officer now owns 392,589 shares in the company, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 550,957 shares of company stock worth $42,992,528. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Insmed

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC boosted its stake in shares of Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after buying an additional 4,560 shares in the last quarter. Capital CS Group LLC purchased a new stake in shares of Insmed in the fourth quarter valued at approximately $586,000. Orion Portfolio Solutions LLC boosted its stake in shares of Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company's stock valued at $2,050,000 after buying an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC boosted its position in Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company's stock worth $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Finally, Vestal Point Capital LP boosted its position in Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock worth $116,800,000 after purchasing an additional 850,000 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.