Insmed (INSM) Upgraded to Buy at ValuEngine

Insmed (NASDAQ:INSM) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

INSM has been the topic of several other research reports. Morgan Stanley raised their price target on shares of Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. Goldman Sachs Group began coverage on shares of Insmed in a research report on Monday, July 23rd. They issued a “neutral” rating and a $32.00 price target on the stock. BidaskClub cut shares of Insmed from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 19th. Credit Suisse Group raised their price target on shares of Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Finally, Zacks Investment Research cut shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.14.

NASDAQ INSM traded up $0.46 during trading hours on Thursday, hitting $16.33. The company’s stock had a trading volume of 965,485 shares, compared to its average volume of 965,498. Insmed has a 52 week low of $13.85 and a 52 week high of $33.94.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.08).

In other news, CEO William Lewis bought 15,700 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average price of $15.90 per share, with a total value of $249,630.00. Following the transaction, the chief executive officer now directly owns 151,247 shares in the company, valued at $2,404,827.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Roger Adsett bought 3,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average cost of $15.97 per share, for a total transaction of $47,910.00. Following the transaction, the insider now owns 18,594 shares in the company, valued at $296,946.18. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 34,785 shares of company stock worth $551,522. Insiders own 3.88% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its position in shares of Insmed by 7.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 38,450 shares of the biopharmaceutical company’s stock worth $909,000 after buying an additional 2,830 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Insmed by 5.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 78,000 shares of the biopharmaceutical company’s stock worth $1,845,000 after buying an additional 3,800 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of Insmed by 12.4% during the 2nd quarter. MetLife Investment Advisors LLC now owns 37,652 shares of the biopharmaceutical company’s stock worth $890,000 after purchasing an additional 4,160 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Insmed during the 2nd quarter worth approximately $122,000. Finally, TD Asset Management Inc. increased its stake in shares of Insmed by 2.2% during the 2nd quarter. TD Asset Management Inc. now owns 265,695 shares of the biopharmaceutical company’s stock worth $6,284,000 after purchasing an additional 5,800 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

Further Reading: What are the benefits of a balanced fund?

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

Analyst Recommendations for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply