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

Insmed (NASDAQ:INSM)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $100.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 28.61% from the stock’s previous close.

A number of other equities analysts have also weighed in on INSM. Stifel Nicolaus dropped their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price objective on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. boosted 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. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.33.

Insmed Stock Performance

Insmed stock traded up $0.77 during mid-day trading on Wednesday, reaching $77.76. 81,622 shares of the stock traded hands, compared to its average volume of 2,165,273. The business’s 50-day moving average is $76.61 and its 200-day moving average is $73.70. Insmed has a 12-month low of $21.92 and a 12-month high of $84.91. 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 stock has a market capitalization of $14.07 billion, a PE ratio of -13.91 and a beta of 1.28.

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

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the sale, the insider now owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the sale, the chief financial officer now directly owns 118,863 shares in the company, valued at $7,573,950.36. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,957 shares of company stock worth $42,859,028. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Darwin Global Management Ltd. boosted its position in shares of Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Norges Bank acquired a new stake in shares of Insmed in the 4th quarter worth $126,606,000. Vanguard Group Inc. boosted its position in shares of Insmed by 6.3% in 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 in the last quarter. Vestal Point Capital LP raised its stake in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in Insmed in the 4th quarter worth $45,773,000.

About Insmed

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.