Insmed, Inc. (NASDAQ:INSM) – Leerink Swann reduced their Q3 2018 earnings per share estimates for Insmed in a note issued to investors on Tuesday, March 13th, according to Zacks Investment Research. Leerink Swann analyst J. Schwartz now expects that the biopharmaceutical company will earn ($0.91) per share for the quarter, down from their previous estimate of ($0.90). Leerink Swann also issued estimates for Insmed’s Q4 2018 earnings at ($0.97) EPS, FY2018 earnings at ($3.86) EPS and FY2019 earnings at ($3.01) EPS.
Insmed (NASDAQ:INSM) last posted its earnings results on Friday, February 23rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.18).
Several other research firms have also recently weighed in on INSM. Zacks Investment Research cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Morgan Stanley initiated coverage on shares of Insmed in a research note on Wednesday, March 21st. They set an “overweight” rating and a $39.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Insmed in a research note on Thursday, January 4th. BidaskClub cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Finally, Robert W. Baird reaffirmed a “positive” rating and set a $42.00 target price (up from $32.00) on shares of Insmed in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.90.
INSM traded up $0.06 during trading on Friday, hitting $20.06. 952,610 shares of the company traded hands, compared to its average volume of 724,370. The stock has a market capitalization of $1,532.36, a price-to-earnings ratio of -6.94 and a beta of 1.11. Insmed has a 1 year low of $11.49 and a 1 year high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.72 and a current ratio of 8.72.
Several large investors have recently modified their holdings of INSM. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Insmed by 137.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 2,698 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Insmed in the 4th quarter worth $188,000. Prudential Financial Inc. purchased a new position in shares of Insmed in the 3rd quarter worth $232,000. Jefferies Group LLC purchased a new position in shares of Insmed in the 4th quarter worth $245,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Insmed in the 3rd quarter worth $256,000. 99.08% of the stock is owned by institutional investors and hedge funds.
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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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