Insmed (NASDAQ:INSM) Stock Moved Up to Strong-Buy by The Goldman Sachs Group

Insmed (NASDAQ:INSM) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a report released on Thursday, Zacks reports.

A number of other research firms have also recently commented on INSM. Wells Fargo & Company boosted their price target on Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $235.00 price target on shares of Insmed in a research note on Tuesday, July 28th. Royal Bank Of Canada cut their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Evercore restated an “outperform” rating and issued a $170.00 target price on shares of Insmed in a report on Friday, August 7th. Finally, UBS Group restated a “buy” rating and set a $172.00 price target on shares of Insmed in a report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Insmed currently has an average rating of “Buy” and an average target price of $201.87.

Insmed Trading Up 2.7%

INSM stock opened at $121.55 on Thursday. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a market capitalization of $26.54 billion, a PE ratio of -29.57 and a beta of 0.82. The company’s 50-day simple moving average is $119.40 and its 200 day simple moving average is $122.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. The firm had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company’s revenue was up 296.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.70) EPS. As a group, sell-side analysts anticipate that Insmed will post -1.84 earnings per share for the current year.

Insider Transactions at Insmed

In related news, COO Roger Adsett sold 239,850 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at approximately $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David R. Brennan sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. The trade was a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 275,549 shares of company stock worth $36,320,872 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Insmed by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 4,299,052 shares of the biopharmaceutical company’s stock valued at $751,936,000 after acquiring an additional 539,625 shares during the last quarter. Norges Bank bought a new stake in Insmed during the fourth quarter worth $506,625,000. Franklin Resources Inc. boosted its position in Insmed by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,755,536 shares of the biopharmaceutical company’s stock worth $479,573,000 after purchasing an additional 615,811 shares during the last quarter. Sei Investments Co. boosted its position in Insmed by 56.8% in the first quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock worth $228,239,000 after purchasing an additional 505,624 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Insmed by 22.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,390,042 shares of the biopharmaceutical company’s stock valued at $241,923,000 after purchasing an additional 251,141 shares during the period.

Insmed Company Profile

Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company’s work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed’s primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.