Insmed (INSM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $35.00 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Insmed is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. Insmed is also focused on the development of INS1009, the company’s inhaled treprostinil prodrug for the treatment of pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder characterized by abnormally high blood pressure in the arteries between the heart and lungs. “

Other equities analysts also recently issued research reports about the company. Robert W. Baird reiterated a positive rating and set a $42.00 price target (up previously from $32.00) on shares of Insmed in a research note on Thursday, January 4th. HC Wainwright reiterated a buy rating and set a $35.00 price target on shares of Insmed in a research note on Thursday, January 4th. BidaskClub upgraded Insmed from a sell rating to a hold rating in a research note on Friday, December 22nd. Finally, Cowen reissued a buy rating and set a $54.00 target price on shares of Insmed in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $37.00.

Insmed (NASDAQ:INSM) traded down $0.72 during mid-day trading on Wednesday, reaching $29.50. The company’s stock had a trading volume of 304,838 shares, compared to its average volume of 745,256. The firm has a market cap of $2,260.00, a P/E ratio of -9.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21. Insmed has a fifty-two week low of $11.49 and a fifty-two week high of $33.94.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.69). equities research analysts expect that Insmed will post -2.67 earnings per share for the current year.

In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of Insmed stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.50, for a total transaction of $487,500.00. Following the transaction, the director now owns 71,131 shares of the company’s stock, valued at approximately $2,311,757.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.03% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Palo Alto Investors LLC raised its holdings in shares of Insmed by 1.6% in the 2nd quarter. Palo Alto Investors LLC now owns 5,621,816 shares of the biopharmaceutical company’s stock worth $96,470,000 after purchasing an additional 87,666 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Insmed by 140.2% in the 3rd quarter. Janus Henderson Group PLC now owns 3,960,748 shares of the biopharmaceutical company’s stock worth $123,615,000 after purchasing an additional 2,312,045 shares during the period. Vanguard Group Inc. raised its holdings in shares of Insmed by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock worth $65,687,000 after purchasing an additional 46,398 shares during the period. State Street Corp raised its holdings in shares of Insmed by 15.2% in the 2nd quarter. State Street Corp now owns 1,728,017 shares of the biopharmaceutical company’s stock worth $29,651,000 after purchasing an additional 228,406 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Insmed by 1.4% in the 2nd quarter. Northern Trust Corp now owns 825,617 shares of the biopharmaceutical company’s stock worth $14,167,000 after purchasing an additional 11,539 shares during the period. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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About Insmed

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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