Insmed Incorporated (NASDAQ:INSM) shares dropped 7.7% during mid-day trading on Thursday . The stock traded as low as $29.80 and last traded at $30.46. Approximately 1,492,973 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 904,758 shares. The stock had previously closed at $32.99.
INSM has been the topic of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price target (up previously from $27.00) on shares of Insmed in a report on Wednesday, September 6th. Zacks Investment Research lowered Insmed from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Cowen restated an “outperform” rating and issued a $54.00 target price on shares of Insmed in a report on Wednesday, September 6th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Insmed in a report on Wednesday, September 6th. Finally, Robert W. Baird restated a “positive” rating and issued a $32.00 target price (up previously from $23.00) on shares of Insmed in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $35.75.
The company has a quick ratio of 15.21, a current ratio of 15.21 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2,330.00, a PE ratio of -9.76 and a beta of 1.18.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board purchased a new position in shares of Insmed in the second quarter valued at $789,000. Pictet Asset Management Ltd. grew its position in shares of Insmed by 5.6% in the third quarter. Pictet Asset Management Ltd. now owns 138,543 shares of the biopharmaceutical company’s stock valued at $4,324,000 after purchasing an additional 7,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in Insmed by 1.2% during the second quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock valued at $65,687,000 after buying an additional 46,398 shares during the period. Teachers Advisors LLC boosted its stake in Insmed by 4.9% during the second quarter. Teachers Advisors LLC now owns 193,807 shares of the biopharmaceutical company’s stock valued at $3,326,000 after buying an additional 9,014 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Insmed during the third quarter valued at $256,000. Institutional investors own 95.28% of the company’s stock.
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Insmed Company Profile
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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