Insmed (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage presently has a $33.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 24.11% from the stock’s current price.
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. “
Other equities analysts also recently issued research reports about the stock. Robert W. Baird reiterated a “positive” rating and issued a $42.00 price target (up previously from $32.00) on shares of Insmed in a report on Thursday, January 4th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Insmed in a report on Thursday, January 4th. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Cowen reiterated a “buy” rating and issued a $54.00 price target on shares of Insmed in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Insmed has an average rating of “Buy” and an average target price of $36.67.
Shares of Insmed (NASDAQ:INSM) traded up $0.22 on Tuesday, hitting $26.59. 946,213 shares of the stock were exchanged, compared to its average volume of 982,292. The company has a quick ratio of 15.21, a current ratio of 15.21 and a debt-to-equity ratio of 0.13. Insmed has a 1-year low of $11.49 and a 1-year high of $33.94.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.69). equities research analysts forecast that Insmed will post -2.67 EPS for the current fiscal year.
In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owns 71,131 shares in the company, valued at approximately $2,311,757.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.03% of the company’s stock.
Large investors have recently bought and sold shares of the business. Pictet Asset Management Ltd. increased its holdings in Insmed by 5.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 138,543 shares of the biopharmaceutical company’s stock valued at $4,324,000 after acquiring an additional 7,400 shares in the last quarter. Vanguard Group Inc. increased its holdings in Insmed by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock valued at $65,687,000 after acquiring an additional 46,398 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Insmed by 20.2% during the third quarter. Nationwide Fund Advisors now owns 41,302 shares of the biopharmaceutical company’s stock worth $1,289,000 after buying an additional 6,947 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Insmed by 4.9% during the second quarter. Teachers Advisors LLC now owns 193,807 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 9,014 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Insmed during the third quarter worth about $256,000. Hedge funds and other institutional investors own 95.26% 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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