Insmed (NASDAQ:INSM) Lowered to “Buy” at ValuEngine

ValuEngine downgraded shares of Insmed (NASDAQ:INSM) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 11th. HC Wainwright restated a buy rating and set a $52.00 price target (up previously from $43.00) on shares of Insmed in a report on Tuesday, April 9th. Finally, BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $36.63.

INSM opened at $22.14 on Wednesday. The business’s 50-day moving average price is $24.34. Insmed has a 12-month low of $11.31 and a 12-month high of $33.13. The company has a current ratio of 4.82, a quick ratio of 4.69 and a debt-to-equity ratio of 2.48. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -5.31 and a beta of 2.82.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by ($0.02). The business had revenue of $21.90 million during the quarter, compared to the consensus estimate of $19.61 million. On average, research analysts anticipate that Insmed will post -3.58 earnings per share for the current year.

In related news, CEO William Lewis sold 400,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total value of $10,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 480,672 shares of the company’s stock, valued at approximately $12,497,472. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the completion of the sale, the insider now directly owns 36,350 shares of the company’s stock, valued at $844,774. The disclosure for this sale can be found here. Corporate insiders own 4.95% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of Insmed during the second quarter valued at approximately $387,000. FMR LLC boosted its position in shares of Insmed by 0.6% during the first quarter. FMR LLC now owns 11,630,784 shares of the biopharmaceutical company’s stock worth $338,107,000 after buying an additional 67,250 shares during the period. Vivo Capital LLC acquired a new position in shares of Insmed during the first quarter worth approximately $34,020,000. Trexquant Investment LP acquired a new position in shares of Insmed during the first quarter worth approximately $1,352,000. Finally, Federated Investors Inc. PA acquired a new position in shares of Insmed during the first quarter worth approximately $9,825,000.

Insmed Company Profile

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.

Further Reading: Buy-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Insmed (NASDAQ:INSM)

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