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

Insmed Incorporated (NASDAQ:INSM)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $82.04 and last traded at $81.24, with a volume of 601359 shares. The stock had previously closed at $79.31.

Analysts Set New Price Targets

Several equities analysts recently commented on INSM shares. Stifel Nicolaus increased their target price on shares of Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Guggenheim increased their target price on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley increased their target price on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.86.

Insmed Stock Performance

The company’s 50-day moving average price is $73.87 and its 200 day moving average price is $73.45. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a market capitalization of $14.96 billion, a PE ratio of -15.06 and a beta of 1.11.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). On average, equities research analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the transaction, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at approximately $9,545,887.53. This trade represents a 13.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 532,207 shares of company stock valued at $41,400,465. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jennison Associates LLC lifted its position in Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after acquiring an additional 4,560 shares during the period. Capital CS Group LLC bought a new stake in Insmed during the 4th quarter valued at about $586,000. Orion Portfolio Solutions LLC increased its stake in Insmed by 48.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC increased its stake in Insmed by 16.9% during the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in Insmed during the 3rd quarter valued at about $35,322,000.

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.