Insmed, Inc. (NASDAQ:INSM) Stock Rating Lowered by BidaskClub
Insmed, Inc. (NASDAQ:INSM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
Several other research firms have also issued reports on INSM. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, April 26th. Stifel Nicolaus lifted their target price on shares of Insmed from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Robert W. Baird began coverage on shares of Insmed in a research report on Monday, July 10th. They set an “outperform” rating and a $23.00 target price on the stock. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of Insmed in a research report on Sunday, June 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Insmed presently has an average rating of “Hold” and a consensus price target of $22.00.
Shares of Insmed (NASDAQ:INSM) traded down 4.94% during midday trading on Friday, hitting $13.46. 720,736 shares of the stock were exchanged. Insmed has a 12-month low of $10.21 and a 12-month high of $19.35. The firm’s market cap is $835.73 million. The stock’s 50 day moving average is $16.91 and its 200 day moving average is $16.51.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by $0.09. On average, equities research analysts forecast that Insmed will post ($2.63) earnings per share for the current fiscal year.
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In other news, General Counsel Christine A. Pellizzari purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was purchased at an average cost of $15.14 per share, with a total value of $151,400.00. Following the acquisition, the general counsel now directly owns 27,300 shares of the company’s stock, valued at approximately $413,322. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Chartwell Investment Partners LLC purchased a new position in shares of Insmed during the second quarter valued at about $2,420,000. BNP Paribas Arbitrage SA increased its position in shares of 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 in the last quarter. Legal & General Group Plc increased its position in shares of Insmed by 2.0% in the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock valued at $347,000 after buying an additional 390 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Insmed by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 330,873 shares of the biopharmaceutical company’s stock valued at $5,677,000 after buying an additional 16,379 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Insmed during the second quarter valued at about $129,000. 92.69% of the stock is owned by hedge funds and other 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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