Insmed (NASDAQ:INSM) Stock Price Up 6% - Should You Buy?

Insmed Incorporated (NASDAQ:INSM - Get Free Report)'s stock price rose 6% during mid-day trading on Monday . The company traded as high as $69.41 and last traded at $69.16. Approximately 1,527,577 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 1,826,931 shares. The stock had previously closed at $65.25.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on INSM shares. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. HC Wainwright restated a "buy" rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.67.

Insmed Stock Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a fifty day moving average of $71.23 and a two-hundred day moving average of $72.46. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of -12.42 and a beta of 1.12.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the business earned ($1.10) EPS. The firm's quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 1,066 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at $7,573,950.36. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at $6,773,307.06. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,094 shares of company stock valued at $4,733,986 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Several hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in shares of Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company's stock worth $324,000 after purchasing an additional 149 shares during the period. Commerce Bank increased its stake in shares of Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock valued at $499,000 after buying an additional 163 shares during the period. GAMMA Investing LLC boosted its stake in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 224 shares during the last quarter. Atomi Financial Group Inc. increased its position in shares of Insmed by 1.4% during the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company's stock worth $1,697,000 after buying an additional 314 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Insmed during the third quarter worth $30,000.

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.

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