Insmed (NASDAQ:INSM) Sets New 52-Week High – Here’s What Happened

Insmed Incorporated (NASDAQ:INSM)’s share price reached a new 52-week high during trading on Thursday . The stock 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 Ratings Changes

INSM has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Stock Performance

The stock has a market capitalization of $13.77 billion, a P/E ratio of -13.84 and a beta of 1.12. The business’s fifty day moving average price is $72.28 and its two-hundred day moving average price is $72.97. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. During the same quarter in the previous year, the business earned ($1.10) earnings per share. Insmed’s revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 31,805 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the completion of the sale, the chief executive officer now directly owns 379,534 shares in the company, valued at $26,635,696.12. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,740 shares of company stock valued at $7,161,294. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. Geode Capital Management LLC lifted its position in Insmed by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock valued at $278,432,000 after purchasing an additional 172,664 shares during the period. Principal Financial Group Inc. increased its position in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the period. Clearbridge Investments LLC grew its position in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after acquiring an additional 714,539 shares during the last quarter. Vestal Point Capital LP lifted its stake in shares of Insmed by 113.3% in the third 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insmed by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock valued at $105,431,000 after buying an additional 137,670 shares during the period.

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.