Insmed (NASDAQ:INSM) Hits New 12-Month High – Should You Buy?

Insmed Incorporated (NASDAQ:INSM)’s stock price reached a new 52-week high on Thursday . The company traded as high as $80.63 and last traded at $77.64, with a volume of 466415 shares changing hands. The stock had previously closed at $78.00.

Analyst Upgrades and Downgrades

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

Insmed Stock Up 0.4 %

The firm’s 50-day moving average price is $72.40 and its 200-day moving average price is $72.98. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) EPS. Research analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Insider Activity

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the transaction, the insider now owns 97,083 shares in the company, valued at $7,766,640. The trade was a 48.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,880 shares of company stock worth $14,452,494. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Insmed in the third quarter worth $30,000. GAMMA Investing LLC grew its holdings in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Insmed in the 4th quarter worth about $47,000. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Insmed in the 4th quarter valued at about $86,000.

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.