BidaskClub upgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a buy rating in a report released on Thursday, May 31st.
Several other brokerages have also issued reports on INSM. ValuEngine upgraded shares of Insmed from a buy rating to a strong-buy rating in a research note on Wednesday, May 9th. Morgan Stanley assumed coverage on shares of Insmed in a research note on Wednesday, March 21st. They set an overweight rating and a $39.00 price target for the company. Zacks Investment Research upgraded shares of Insmed from a sell rating to a hold rating in a research note on Tuesday, May 1st. Finally, Credit Suisse Group upgraded shares of Insmed from a neutral rating to an outperform rating and raised their price target for the stock from $27.00 to $31.00 in a research note on Monday, April 23rd. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Insmed currently has an average rating of Buy and an average target price of $39.11.
NASDAQ:INSM traded down $0.29 on Thursday, hitting $28.26. The stock had a trading volume of 419,200 shares, compared to its average volume of 787,507. The company has a debt-to-equity ratio of 0.70, a quick ratio of 20.01 and a current ratio of 20.01. Insmed has a 1 year low of $11.49 and a 1 year high of $33.94. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -9.78 and a beta of 0.99.
Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.96) by $0.07. sell-side analysts forecast that Insmed will post -4.15 earnings per share for the current year.
In related news, insider Orlov S. Nicole Schaeffer sold 25,991 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $28.24, for a total value of $733,985.84. Following the completion of the transaction, the insider now directly owns 22,253 shares of the company’s stock, valued at approximately $628,424.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.88% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSM. Alps Advisors Inc. boosted its holdings in Insmed by 21.1% in the 1st quarter. Alps Advisors Inc. now owns 102,752 shares of the biopharmaceutical company’s stock valued at $2,314,000 after purchasing an additional 17,881 shares during the period. Sectoral Asset Management Inc boosted its holdings in Insmed by 44.6% in the 4th quarter. Sectoral Asset Management Inc now owns 90,199 shares of the biopharmaceutical company’s stock valued at $2,812,000 after purchasing an additional 27,800 shares during the period. State of Wisconsin Investment Board boosted its holdings in Insmed by 61.3% in the 4th quarter. State of Wisconsin Investment Board now owns 74,200 shares of the biopharmaceutical company’s stock valued at $2,314,000 after purchasing an additional 28,200 shares during the period. Bellevue Group AG bought a new position in Insmed in the 1st quarter valued at $7,533,000. Finally, MetLife Investment Advisors LLC bought a new position in Insmed in the 4th quarter valued at $1,044,000.
Insmed Company Profile
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
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