Insmed (INSM) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a report issued on Wednesday morning.
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. “
A number of other equities analysts also recently commented on INSM. HC Wainwright reiterated a buy rating and issued a $35.00 price target on shares of Insmed in a research note on Thursday, January 4th. BidaskClub downgraded Insmed from a hold rating to a sell rating in a research note on Wednesday, February 14th. ValuEngine upgraded Insmed from a sell rating to a hold rating in a research note on Friday, February 2nd. Robert W. Baird reiterated a positive rating and issued a $42.00 price target (up from $32.00) on shares of Insmed in a research note on Thursday, January 4th. Finally, Cowen reiterated a buy rating and issued a $54.00 price target on shares of Insmed in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $36.67.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Friday, February 23rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.18). analysts expect that Insmed will post -3.65 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of INSM. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Insmed by 137.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 2,698 shares during the period. UBS Asset Management Americas Inc. acquired a new position in Insmed in the second quarter valued at approximately $187,000. Public Employees Retirement Association of Colorado acquired a new position in Insmed in the fourth quarter valued at approximately $188,000. Prudential Financial Inc. acquired a new position in Insmed in the third quarter valued at approximately $232,000. Finally, Jefferies Group LLC acquired a new position in Insmed in the fourth quarter valued at approximately $245,000. Institutional investors own 96.30% of the company’s stock.
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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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