Insmed, Inc. (INSM) Cut to Sell at ValuEngine
ValuEngine downgraded shares of Insmed, Inc. (NASDAQ:INSM) from a hold rating to a sell rating in a research note published on Thursday morning.
A number of other brokerages also recently commented on INSM. HC Wainwright reiterated a buy rating on shares of Insmed in a research report on Wednesday, August 2nd. Robert W. Baird initiated coverage on Insmed in a research report on Monday, July 10th. They set an outperform rating and a $23.00 price objective on the stock. Zacks Investment Research downgraded Insmed from a buy rating to a hold rating in a research report on Tuesday, May 9th. Citigroup Inc. reiterated a neutral rating and set a $17.00 price objective (up previously from $14.00) on shares of Insmed in a research report on Sunday, June 11th. Finally, Stifel Nicolaus lifted their price objective on Insmed from $23.00 to $27.00 and gave the stock a buy rating in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $22.00.
Insmed (INSM) traded down 2.860% during mid-day trading on Thursday, reaching $13.755. The company’s stock had a trading volume of 394,793 shares. Insmed has a 12-month low of $10.21 and a 12-month high of $19.35. The firm’s 50 day moving average is $16.92 and its 200-day moving average is $16.51. The company’s market cap is $854.05 million.
Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by $0.09. Equities analysts anticipate that Insmed will post ($2.63) earnings per share for the current fiscal year.
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In other Insmed news, General Counsel Christine A. Pellizzari bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average price of $15.14 per share, with a total value of $151,400.00. Following the completion of the purchase, the general counsel now directly owns 27,300 shares in the company, valued at $413,322. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of INSM. SG Americas Securities LLC acquired a new stake in Insmed during the second quarter valued at about $129,000. BNP Paribas Arbitrage SA boosted its stake in Insmed by 666.7% in the second 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 during the period. Driehaus Capital Management LLC acquired a new stake in Insmed during the first quarter valued at about $192,000. Russell Investments Group Ltd. acquired a new stake in Insmed during the fourth quarter valued at about $242,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Insmed by 39.2% in the first quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 4,063 shares during the period. 92.69% of the stock is owned by institutional investors.
Insmed Company Profile
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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