Zacks Investment Research upgraded shares of Insmed (NASDAQ:INSM) from a sell rating to a buy rating in a research report report published on Tuesday. The brokerage currently has $33.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Insmed is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. Insmed is also focused on the development of INS1009, the company’s inhaled treprostinil prodrug for the treatment of pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder characterized by abnormally high blood pressure in the arteries between the heart and lungs. “
Several other equities research analysts also recently weighed in on INSM. Cowen reaffirmed a buy rating and set a $54.00 target price on shares of Insmed in a research note on Friday, November 3rd. HC Wainwright reiterated a buy rating and set a $35.00 price target on shares of Insmed in a report on Monday, November 6th. BidaskClub upgraded shares of Insmed from a sell rating to a hold rating in a report on Friday, December 22nd. Finally, Robert W. Baird reiterated a positive rating and set a $42.00 price target (up previously from $32.00) on shares of Insmed in a report on Thursday, January 4th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Insmed presently has an average rating of Buy and a consensus price target of $37.50.
Shares of Insmed (NASDAQ:INSM) traded up $0.40 on Tuesday, reaching $31.66. 812,194 shares of the company traded hands, compared to its average volume of 711,667. Insmed has a 1 year low of $11.49 and a 1 year high of $33.94. The stock has a market cap of $2,390.00, a P/E ratio of -10.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.21 and a current ratio of 15.21.
In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.50, for a total transaction of $487,500.00. Following the completion of the transaction, the director now owns 71,131 shares in the company, valued at approximately $2,311,757.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Pictet Asset Management Ltd. boosted its holdings in shares of Insmed by 5.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 138,543 shares of the biopharmaceutical company’s stock valued at $4,324,000 after buying an additional 7,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Insmed by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock valued at $65,687,000 after buying an additional 46,398 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Insmed by 4.9% in the 2nd quarter. Teachers Advisors LLC now owns 193,807 shares of the biopharmaceutical company’s stock valued at $3,326,000 after buying an additional 9,014 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Insmed by 20.2% in the 3rd quarter. Nationwide Fund Advisors now owns 41,302 shares of the biopharmaceutical company’s stock valued at $1,289,000 after buying an additional 6,947 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Insmed in the 3rd quarter valued at $256,000. Institutional investors and hedge funds own 95.28% of the company’s stock.
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Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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