Insmed (INSM) Raised to Buy at BidaskClub

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

INSM has been the topic of several other reports. Morgan Stanley increased their price target on shares of Insmed from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. ValuEngine downgraded shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Credit Suisse Group increased their price target on shares of Insmed from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Goldman Sachs Group set a $25.00 price objective on shares of Insmed and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Finally, JMP Securities cut shares of Insmed from an “outperform” rating to a “market perform” rating in a research note on Monday, August 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Insmed presently has an average rating of “Buy” and an average price target of $35.50.

INSM opened at $16.69 on Wednesday. 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 has a 1-year low of $13.85 and a 1-year high of $33.94. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -5.78 and a beta of 1.73.

Insmed (NASDAQ:INSM) last released 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). On average, equities analysts anticipate that Insmed will post -4.11 EPS for the current year.

In other news, insider Roger Adsett acquired 3,000 shares of Insmed stock in a transaction dated Thursday, November 1st. The stock was purchased at an average cost of $15.97 per share, with a total value of $47,910.00. Following the completion of the purchase, the insider now directly owns 18,594 shares in the company, valued at approximately $296,946.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lewis acquired 15,700 shares of Insmed stock in a transaction dated Thursday, November 1st. The stock was purchased at an average cost of $15.90 per share, with a total value of $249,630.00. Following the completion of the purchase, the chief executive officer now owns 151,247 shares of the company’s stock, valued at $2,404,827.30. The disclosure for this purchase can be found here. Over the last three months, insiders bought 54,785 shares of company stock valued at $871,726. Corporate insiders own 3.88% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in INSM. Baker BROS. Advisors LP increased its stake in shares of Insmed by 164.6% in the third quarter. Baker BROS. Advisors LP now owns 1,851,982 shares of the biopharmaceutical company’s stock worth $37,447,000 after purchasing an additional 1,151,982 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Insmed in the third quarter worth $13,129,000. Voya Investment Management LLC increased its stake in shares of Insmed by 31.9% in the second quarter. Voya Investment Management LLC now owns 1,053,468 shares of the biopharmaceutical company’s stock worth $24,914,000 after purchasing an additional 254,853 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Insmed by 91.5% in the third quarter. JPMorgan Chase & Co. now owns 506,391 shares of the biopharmaceutical company’s stock worth $10,240,000 after purchasing an additional 241,921 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Insmed in the third quarter worth $4,396,000.

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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Analyst Recommendations for Insmed (NASDAQ:INSM)

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