Insmed (NASDAQ:INSM) Downgraded by BidaskClub
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. HC Wainwright reissued a buy rating and set a $52.00 price objective (up from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. Finally, Zacks Investment Research downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, May 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $36.63.
Shares of INSM opened at $22.14 on Wednesday. Insmed has a 52-week low of $11.31 and a 52-week high of $33.13. The firm has a market cap of $1.70 billion, a P/E ratio of -5.31 and a beta of 2.82. The business has a fifty day moving average of $24.34. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48.
In other news, CEO William Lewis sold 400,000 shares of Insmed stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 480,672 shares in the company, valued at approximately $12,497,472. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of Insmed stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the completion of the transaction, the insider now owns 36,350 shares of the company’s stock, valued at approximately $844,774. The disclosure for this sale can be found here. Company insiders own 4.95% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vivo Capital LLC acquired a new position in Insmed during the first quarter worth approximately $34,020,000. Norges Bank acquired a new position in shares of Insmed in the fourth quarter valued at approximately $9,955,000. Dimensional Fund Advisors LP increased its holdings in shares of Insmed by 260.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 782,614 shares of the biopharmaceutical company’s stock valued at $10,268,000 after purchasing an additional 565,297 shares during the period. Federated Investors Inc. PA acquired a new position in shares of Insmed in the first quarter valued at approximately $9,825,000. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in shares of Insmed by 64.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 841,119 shares of the biopharmaceutical company’s stock valued at $24,451,000 after purchasing an additional 328,472 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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