Insmed Incorporated (INSM) Director Buys $253,982.15 in Stock

Insmed Incorporated (NASDAQ:INSM) Director Steinar J. Engelsen purchased 16,085 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average price of $15.79 per share, for a total transaction of $253,982.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Insmed stock opened at $16.33 on Monday. Insmed Incorporated has a fifty-two week low of $13.85 and a fifty-two week high of $33.94. The company has a debt-to-equity ratio of 1.07, a quick ratio of 10.06 and a current ratio of 10.06.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.08). As a group, equities research analysts forecast that Insmed Incorporated will post -4.13 earnings per share for the current year.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Insmed from a “hold” rating to a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Credit Suisse Group lifted their price target on shares of Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Morgan Stanley lifted their price target on shares of Insmed from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, October 1st. Finally, Goldman Sachs Group set a $25.00 price target on shares of Insmed and gave the company a “hold” rating in a research note on Wednesday, September 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $35.50.

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Insmed by 42.5% during the 3rd quarter. Wells Fargo & Company MN now owns 61,611 shares of the biopharmaceutical company’s stock worth $1,245,000 after purchasing an additional 18,388 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Insmed by 10.1% during the 3rd quarter. Emerald Advisers Inc. PA now owns 791,474 shares of the biopharmaceutical company’s stock worth $16,004,000 after purchasing an additional 72,585 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in shares of Insmed by 34.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 845,858 shares of the biopharmaceutical company’s stock worth $17,103,000 after purchasing an additional 215,743 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Insmed by 23.5% during the 3rd quarter. Alps Advisors Inc. now owns 136,333 shares of the biopharmaceutical company’s stock worth $2,757,000 after purchasing an additional 25,931 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Insmed during the 3rd quarter worth about $452,000.

About Insmed

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.

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