Insmed, Inc. (INSM) Stock Rating Reaffirmed by Cowen and Company
Insmed, Inc. (NASDAQ:INSM)‘s stock had its “buy” rating reissued by research analysts at Cowen and Company in a report issued on Friday. They currently have a $54.00 price objective on the biopharmaceutical company’s stock. Cowen and Company’s price target suggests a potential upside of 79.94% from the stock’s previous close.
Several other equities analysts have also recently weighed in on INSM. BidaskClub cut Insmed from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research note on Wednesday, August 2nd. Evercore ISI began coverage on Insmed in a research note on Wednesday, August 16th. They set an “outperform” rating and a $28.00 target price on the stock. ValuEngine upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Robert W. Baird reiterated a “positive” rating and set a $32.00 target price (up from $23.00) on shares of Insmed in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.50.
Shares of Insmed (NASDAQ:INSM) traded up $2.09 during trading hours on Friday, reaching $30.01. The company’s stock had a trading volume of 615,374 shares, compared to its average volume of 485,637. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 0.66. Insmed has a fifty-two week low of $10.21 and a fifty-two week high of $31.84.
Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). sell-side analysts forecast that Insmed will post -2.7 earnings per share for the current year.
In other Insmed news, Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the completion of the transaction, the director now owns 71,131 shares of the company’s stock, valued at approximately $2,110,456.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melvin Md Sharoky sold 50,000 shares of Insmed stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total value of $1,368,500.00. The disclosure for this sale can be found here. Company insiders own 4.03% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INSM. SG Americas Securities LLC purchased a new position in Insmed during the 2nd quarter valued at about $129,000. BNP Paribas Arbitrage SA grew its holdings in Insmed by 666.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 6,520 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Insmed during the 2nd quarter valued at about $187,000. Driehaus Capital Management LLC bought a new stake in shares of Insmed during the 1st quarter valued at about $192,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Insmed during the 2nd quarter valued at about $201,000. 73.07% of the stock is owned by institutional investors and hedge funds.
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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