Insmed (NASDAQ:INSM) Sets New 52-Week High – Still a Buy?

Insmed Incorporated (NASDAQ:INSM)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $81.25 and last traded at $81.01, with a volume of 1762349 shares trading hands. The stock had previously closed at $77.88.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INSM shares. 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. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One equities research 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 a consensus target price of $84.00.

Insmed Stock Performance

The company has a 50 day moving average of $72.69 and a two-hundred day moving average of $73.04. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $77.94, for a total value of $1,461,375.00. Following the sale, the chief executive officer now owns 379,534 shares in the company, valued at approximately $29,580,879.96. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares of the company’s stock, valued at $7,766,640. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,630 shares of company stock valued at $15,913,869 in the last three months. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

Hedge funds have recently added to or reduced their stakes in the stock. Vestal Point Capital LP increased its holdings in shares of Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Insmed during the third quarter valued at approximately $35,322,000. Assenagon Asset Management S.A. raised its holdings in Insmed by 119.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after acquiring an additional 466,306 shares during the last quarter. Victory Capital Management Inc. lifted its position in Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after acquiring an additional 308,819 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Insmed during the 3rd quarter valued at $18,377,000.

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.