Insmed Inc. (INSM) Stock Rating Upgraded by Zacks Investment Research
Insmed Inc. (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other equities research analysts have also issued reports on INSM. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $24.00 price target on shares of Insmed in a report on Thursday, June 9th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.57.
Shares of Insmed (NASDAQ:INSM) opened at 14.52 on Thursday. The stock’s 50 day moving average is $13.63 and its 200 day moving average is $12.08. Insmed has a 12 month low of $9.02 and a 12 month high of $21.14. The company’s market cap is $898.45 million.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.03. On average, analysts anticipate that Insmed will post ($2.25) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Pacad Investment Ltd. acquired a new stake in shares of Insmed during the second quarter valued at $124,000. TFS Capital LLC purchased a new position in Insmed during the second quarter valued at about $137,000. Legal & General Group Plc raised its position in Insmed by 7.2% in the first quarter. Legal & General Group Plc now owns 14,289 shares of the biopharmaceutical company’s stock valued at $182,000 after buying an additional 959 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Insmed during the second quarter valued at about $278,000. Finally, State Board of Administration of Florida Retirement System raised its position in Insmed by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 29,335 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 278 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors.
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
Receive News & Stock Ratings for Insmed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed Inc. and related stocks with our FREE daily email newsletter.