Credit Suisse Group Reaffirms “Buy” Rating for Insmed (NASDAQ:INSM)
Credit Suisse Group reiterated their buy rating on shares of Insmed (NASDAQ:INSM) in a research note published on Tuesday morning, AnalystRatings.com reports. They currently have a $40.00 target price on the biopharmaceutical company’s stock.
Several other research firms have also commented on INSM. Goldman Sachs Group began coverage on Insmed in a research report on Tuesday, September 3rd. They issued a buy rating and a $30.00 price target for the company. ValuEngine downgraded Insmed from a buy rating to a hold rating in a research note on Wednesday, September 4th. BidaskClub cut Insmed from a sell rating to a strong sell rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research raised Insmed from a hold rating to a buy rating and set a $25.00 price target for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $36.63.
INSM traded down $0.11 on Tuesday, hitting $18.90. 29,022 shares of the company’s stock traded hands, compared to its average volume of 890,791. The company has a current ratio of 7.54, a quick ratio of 7.31 and a debt-to-equity ratio of 1.01. Insmed has a one year low of $11.31 and a one year high of $33.13. The company’s 50 day simple moving average is $17.65 and its 200-day simple moving average is $25.06. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 2.98.
In related news, CEO William Lewis sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total value of $10,400,000.00. Following the sale, the chief executive officer now owns 480,672 shares of the company’s stock, valued at approximately $12,497,472. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.95% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. A.R.T. Advisors LLC increased its holdings in Insmed by 4.7% in the 2nd quarter. A.R.T. Advisors LLC now owns 22,177 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 1,000 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in Insmed by 26.5% during the second quarter. NumerixS Investment Technologies Inc now owns 4,807 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 1,007 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Insmed in the second quarter valued at approximately $34,000. State Board of Administration of Florida Retirement System increased its stake in shares of Insmed by 4.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 41,202 shares of the biopharmaceutical company’s stock valued at $1,055,000 after purchasing an additional 1,910 shares during the period. Finally, Aperio Group LLC increased its stake in shares of Insmed by 21.0% in the second quarter. Aperio Group LLC now owns 11,402 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 1,977 shares during the period.
Insmed Company Profile
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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