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

Insmed Incorporated (NASDAQ:INSM) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.63 and last traded at $77.64, with a volume of 466415 shares trading hands. The stock had previously closed at $78.00.

Wall Street Analysts Forecast Growth

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

Insmed Stock Up 0.4 %

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’s 50-day simple moving average is $72.40 and its 200 day simple moving average is $72.98.

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

Insider Transactions at Insmed

In other news, CEO William Lewis sold 2,978 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the transaction, the chief executive officer now owns 392,589 shares in the company, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 3,470 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the sale, the chief financial officer now directly owns 114,736 shares in the company, valued at approximately $7,538,155.20. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 195,880 shares of company stock valued at $14,452,494. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Insmed in the 3rd quarter worth about $30,000. GAMMA Investing LLC raised its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Insmed in the fourth quarter valued at about $47,000. Exchange Traded Concepts LLC grew its position in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Insmed during the 4th quarter worth approximately $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.