ValuEngine upgraded shares of Insmed (NASDAQ:INSM) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
A number of other analysts also recently weighed in on INSM. BidaskClub downgraded shares of Insmed from a hold rating to a sell rating in a research report on Friday, January 26th. Zacks Investment Research raised shares of Insmed from a hold rating to a buy rating and set a $32.00 target price for the company in a research report on Thursday, January 25th. HC Wainwright reissued a buy rating and set a $35.00 target price on shares of Insmed in a research report on Thursday, January 4th. Credit Suisse Group began coverage on shares of Insmed in a research report on Wednesday, January 17th. They set a neutral rating and a $31.00 target price for the company. Finally, Robert W. Baird reissued a positive rating and set a $42.00 target price (up previously from $32.00) on shares of Insmed in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Insmed presently has an average rating of Buy and an average target price of $36.67.
Shares of Insmed (NASDAQ INSM) opened at $25.57 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21. Insmed has a 52-week low of $11.49 and a 52-week high of $33.94.
In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total transaction of $487,500.00. Following the transaction, the director now directly 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 through this link. 5.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of INSM. Janus Henderson Group PLC lifted its holdings in shares of Insmed by 140.2% in the 3rd quarter. Janus Henderson Group PLC now owns 3,960,748 shares of the biopharmaceutical company’s stock worth $123,615,000 after purchasing an additional 2,312,045 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Insmed by 1,577.1% in the 3rd quarter. Victory Capital Management Inc. now owns 575,590 shares of the biopharmaceutical company’s stock worth $17,964,000 after purchasing an additional 541,270 shares in the last quarter. C WorldWide Group Holding A S lifted its holdings in shares of Insmed by 216.3% in the 3rd quarter. C WorldWide Group Holding A S now owns 447,429 shares of the biopharmaceutical company’s stock worth $13,964,000 after purchasing an additional 305,958 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Insmed in the 3rd quarter worth $9,210,000. Finally, State Street Corp lifted its holdings in shares of Insmed by 15.2% in the 2nd quarter. State Street Corp now owns 1,728,017 shares of the biopharmaceutical company’s stock worth $29,651,000 after purchasing an additional 228,406 shares in the last quarter. Institutional investors own 93.28% 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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