INSM INSMED Inc
Price Chart
Executive Summary
Morgan Stanley upgraded INSM from Equal-Weight to Overweight on March 30, 2026, with a $212 price target, up from $166. The upgrade is part of a 7-firm cluster action, including Barclays, Roth Capital, William Blair, Jefferies, and RBC Capital, signaling broad institutional conviction. Consensus is overwhelmingly bullish: 27 of 28 analysts rate Buy or Strong Buy, with a mean target of $203.30, implying 86% upside from the current $109.14. Morgan Stanley has a 63% accuracy on 8 INSM calls with a 54.8% average return, ranking top-tier among covering firms. EPS revisions over the past 30 days are mixed: 2 up, 2 down for the current quarter, but 4 down for next fiscal year, suggesting near-term caution. Insider sales totaling ~$4.4M on May 13-14 by C-suite and directors create a bearish contra-signal to the bullish analyst cluster. The convergence of multiple high-accuracy firms upgrading simultaneously is a powerful signal, but the insider selling and mixed EPS revisions warrant caution. Bottom line: the cluster upgrade is a strong bullish catalyst, but traders should watch for insider selling as a potential headwind.
Impact Score
Consensus & Targets
Consensus is 96% bullish: 9 Strong Buy, 18 Buy, 1 Hold, 0 Sell, 0 Strong Sell across 28 analysts. The direction is overwhelmingly positive, with Morgan Stanley's upgrade aligning with the majority view.
Mean target $203.30, median $210, high $243, low $140. Current price $109.14 implies 86% upside to mean. Morgan Stanley's $212 PT is slightly above the median and mean, reflecting above-consensus conviction.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-05-14 | Truist Securities | maintain | Buy | $185.00 |
| 2026-05-08 | RBC Capital | maintain | Outperform | $205.00 |
| 2026-05-08 | Wells Fargo | maintain | Overweight | $160.00 |
| 2026-05-08 | Guggenheim | maintain | Buy | $226.00 |
| 2026-04-17 | Roth Capital | reiterate | Buy | $212.00 |
| 2026-04-14 | RBC Capital | maintain | Outperform | $216.00 |
| 2026-04-01 | Barclays | maintain | Overweight | — |
| 2026-03-30 | Morgan Stanley | upgrade | Overweight | — |
| 2026-03-26 | HC Wainwright & Co. | maintain | Buy | — |
| 2026-03-25 | Mizuho | maintain | Outperform | — |
30-day analyst activity: 0 upgrades, 0 downgrades (excluding the cluster). EPS revisions: current quarter 2 up, 2 down; next fiscal year 1 up, 4 down. Estimates are being revised lower for the forward year, creating a mixed picture.
Firm Track Record — Morgan Stanley
Morgan Stanley accuracy: 55% on 4993 calls | avg return: 4.3%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Barclays | 100% | 2/2 | 106.1% | top tier |
| Jefferies | 100% | 2/2 | 71.2% | top tier |
| B of A Securities | 75% | 6/8 | 23.2% | top tier |
| JP Morgan | 71% | 5/7 | 24.8% | top tier |
| Truist Securities | 70% | 7/10 | 54.4% | top tier |
| Wells Fargo | 67% | 6/9 | 37.2% | top tier |
| Mizuho | 67% | 4/6 | 46.5% | top tier |
| HC Wainwright & Co. | 64% | 9/14 | 31.2% | top tier |
| UBS | 63% | 5/8 | 27.6% | top tier |
| Morgan Stanley | 63% | 5/8 | 54.8% | top tier |
Morgan Stanley has 63% accuracy on 8 INSM calls with a 54.8% average return, ranking top-tier. Best-performing firms: Barclays (100% on 2 calls, avg return 106.1%), Jefferies (100% on 2 calls, 71.2%). Worst: Cantor Fitzgerald (40% on 5 calls, avg return -9.8%), TD Cowen (33% on 6 calls, -0.4%).
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $-0.78 | $-1.09 — $-0.58 | $392.2M | ↑1 ↓0 |
| +1y | $0.37 | $-1.91 — $1.64 | $2.8B | ↑1 ↓0 |
| 0y | $-2.76 | $-4.29 — $-1.84 | $1.7B | ↑2 ↓0 |
| +1q | $-0.60 | $-1.14 — $-0.35 | $467.6M | ↑1 ↓0 |
Cross-Platform Signals
Insider sales: $4.4M in sales on May 13-14 by C-suite (Flammer, Smith, Adsett, Lewis) — a bearish signal opposing the bullish analyst cluster. Institutional: Morgan Stanley added 69.3% ($284M), Norges Bank new position ($506M), FMR added 80.3% ($1.3B). Short interest at 64.2% ratio suggests heavy bearish positioning. The insider selling diverges from the bullish analyst and institutional signals, creating a nuanced picture.
Actionable Insight
The cluster upgrade from multiple top-tier firms is a strong bullish catalyst, but the insider selling and elevated short interest create a tug-of-war. Traders should consider a long position with a stop below $100, targeting the $200+ consensus, but monitor insider activity for further selling.
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 16, 2026
5d ago
|
ANALYST-UPGRADE
| $154.84 awaiting T+5 | awaiting T+5 | — | $107.19 (−30.77%) |
|
May 15, 2026
6d ago
|
S-3ASR
| $109.21 awaiting T+5 | awaiting T+5 | — | $107.19 (−1.85%) |
|
May 15, 2026
6d ago
|
Insider Cluster
| — | awaiting T+5 | — | — |
|
May 13, 2026
8d ago
|
144
| — | awaiting T+5 | — | — |
|
May 7, 2026
15d ago
|
8-K
| $105.00 $117.99 | ▲ +12.37% | ▲ +10.87% | $107.19 (+2.09%) |
|
May 4, 2026
18d ago
|
Insider Cluster
| $140.01 $103.89 | ▼ −25.80% | ▼ −28.73% | $107.19 (−23.44%) |
|
Apr 16, 2026
5w ago
|
ANALYST-UPGRADE
| $142.79 $143.83 | ▲ +0.73% | ▼ −0.26% | $107.19 (−24.93%) |
|
Apr 16, 2026
5w ago
|
ANALYST-UPGRADE
| $142.79 $143.83 | ▲ +0.73% | ▼ −0.26% | $107.19 (−24.93%) |
|
Apr 16, 2026
5w ago
|
ANALYST-UPGRADE
| $142.79 $143.83 | ▲ +0.73% | ▼ −0.26% | $107.19 (−24.93%) |
|
Apr 16, 2026
5w ago
|
ANALYST-UPGRADE
| $142.79 $143.83 | ▲ +0.73% | ▼ −0.26% | $107.19 (−24.93%) |
US Market Status
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