Insmed (NASDAQ:INSM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Insmed (NASDAQ:INSM) had its target price raised by research analysts at Royal Bank of Canada from $99.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.41% from the company’s current price.

INSM has been the subject of a number of other research reports. Truist Financial lifted their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, February 21st. UBS Group lowered their target price on shares of Insmed from $110.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Morgan Stanley boosted their price objective on shares of Insmed from $90.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group restated a “buy” rating on shares of Insmed in a research report on Tuesday. Finally, HC Wainwright upped their price objective on Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.81.

Insmed Trading Down 1.1%

Shares of INSM stock opened at $96.88 on Wednesday. The stock has a market capitalization of $17.65 billion, a price-to-earnings ratio of -17.33 and a beta of 0.80. Insmed has a 12-month low of $60.40 and a 12-month high of $100.00. The stock’s 50-day moving average price is $70.73 and its 200-day moving average price is $73.47. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the firm posted ($1.06) EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts predict that Insmed will post -4.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the transaction, the chief executive officer now directly owns 233,924 shares in the company, valued at $16,412,107.84. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Clarissa Desjardins acquired 1,895 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was acquired at an average price of $66.87 per share, with a total value of $126,718.65. Following the completion of the transaction, the director now directly owns 1,895 shares of the company’s stock, valued at $126,718.65. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 262,166 shares of company stock valued at $20,585,587 over the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. boosted its position in shares of Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 221 shares during the period. Elequin Capital LP purchased a new position in Insmed in the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Insmed during the first quarter worth about $49,000. Finally, V Square Quantitative Management LLC lifted its stake in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 248 shares during 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.