Insmed (NASDAQ:INSM) Reaches New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INSM. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of 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 reissued a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Insmed Stock Performance

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

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.64, for a total value of $392,786.08. Following the sale, the insider now directly owns 101,549 shares of the company’s stock, valued at approximately $6,462,578.36. This trade represents a 5.73 % 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 over the last three months. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its holdings in shares of Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 149 shares during the last quarter. Abel Hall LLC lifted its stake in Insmed by 4.7% in the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares during the last quarter. Commerce Bank boosted its position in Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 163 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Insmed by 5.6% during the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 166 shares during the last quarter.

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.