BidaskClub lowered shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a research note issued to investors on Tuesday, BidAskClub reports.
Other equities analysts also recently issued research reports about the company. HC Wainwright reiterated a buy rating and set a $52.00 price target (up previously from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, May 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $37.88.
Insmed stock opened at $23.44 on Tuesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -5.62 and a beta of 2.82. Insmed has a 52 week low of $11.31 and a 52 week high of $33.13. The business’s 50-day moving average is $24.92. The company has a debt-to-equity ratio of 2.48, a quick ratio of 4.69 and a current ratio of 4.82.
Insmed (NASDAQ:INSM) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.02). The company had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $19.61 million. On average, sell-side analysts anticipate that Insmed will post -3.65 earnings per share for the current fiscal year.
In related news, CEO William Lewis sold 400,000 shares of Insmed stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the transaction, the chief executive officer now owns 480,672 shares in the company, valued at $12,497,472. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of Insmed stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $23.24, for a total value of $278,880.00. Following the transaction, the insider now owns 36,350 shares in the company, valued at approximately $844,774. The disclosure for this sale can be found here. Company insiders own 4.95% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new position in Insmed in the 1st quarter valued at about $75,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Insmed during the fourth quarter worth about $101,000. NumerixS Investment Technologies Inc bought a new position in shares of Insmed during the first quarter worth about $106,000. Millennium Management LLC bought a new position in Insmed in the fourth quarter worth about $146,000. Finally, Amalgamated Bank bought a new position in Insmed in the fourth quarter worth about $151,000.
Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.
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