Insmed (NASDAQ:INSM) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a report published on Monday morning.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company reiterated an overweight rating and issued a $55.00 target price on shares of Insmed in a research note on Monday, April 1st. UBS Group initiated coverage on Insmed in a research report on Tuesday, February 27th. They set a buy rating and a $46.00 price target on the stock. Barclays boosted their price objective on Insmed from $37.00 to $40.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Wolfe Research initiated coverage on Insmed in a research note on Thursday, February 15th. They set an outperform rating and a $42.00 target price for the company. Finally, Guggenheim boosted their price target on shares of Insmed from $52.00 to $54.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $44.92.

Insmed Stock Up 1.5 %

INSM opened at $26.38 on Monday. The company’s 50-day moving average price is $26.59 and its 200 day moving average price is $27.07. Insmed has a fifty-two week low of $18.08 and a fifty-two week high of $32.00. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -4.94 and a beta of 0.93.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million during the quarter, compared to analyst estimates of $82.15 million. During the same quarter last year, the firm earned ($1.20) EPS. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. Research analysts anticipate that Insmed will post -4.65 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Insmed by 39.7% during the third quarter. Raymond James & Associates now owns 44,214 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 12,573 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Insmed during the 3rd quarter valued at about $1,044,000. Mackenzie Financial Corp acquired a new position in shares of Insmed in the 3rd quarter valued at about $208,000. Strs Ohio lifted its position in shares of Insmed by 690.0% in the third quarter. Strs Ohio now owns 23,700 shares of the biopharmaceutical company’s stock worth $598,000 after purchasing an additional 20,700 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Insmed by 59.0% during the third quarter. TD Asset Management Inc now owns 523,132 shares of the biopharmaceutical company’s stock worth $13,209,000 after purchasing an additional 194,145 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.