Insmed, Inc. (INSM) Rating Lowered to Strong Sell at BidaskClub
Insmed, Inc. (NASDAQ:INSM) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, July 5th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Wednesday, August 2nd. Stifel Nicolaus upped their price target on shares of Insmed from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. ValuEngine raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of Insmed in a research note on Sunday, June 11th. Two 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 stock. The stock has an average rating of “Hold” and an average target price of $22.00.
Shares of Insmed (INSM) traded up 8.10% on Monday, reaching $12.55. 631,846 shares of the company’s stock were exchanged. The company’s market capitalization is $782.83 million. Insmed has a 1-year low of $10.21 and a 1-year high of $19.35. The stock’s 50-day moving average price is $16.07 and its 200-day moving average price is $16.36.
Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by $0.09. Analysts anticipate that Insmed will post ($2.70) EPS for the current fiscal year.
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In other Insmed news, General Counsel Christine A. Pellizzari bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average cost of $15.14 per share, for a total transaction of $151,400.00. Following the acquisition, the general counsel now directly owns 27,300 shares of the company’s stock, valued at $413,322. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.10% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Insmed during the fourth quarter worth approximately $242,000. Norges Bank acquired a new stake in Insmed during the fourth quarter worth approximately $3,635,000. Teachers Advisors LLC increased its stake in Insmed by 7.3% in the fourth quarter. Teachers Advisors LLC now owns 390,648 shares of the biopharmaceutical company’s stock worth $5,168,000 after buying an additional 26,597 shares during the last quarter. C WorldWide Group Holding A S acquired a new stake in Insmed during the first quarter worth approximately $2,144,000. Finally, Bank of New York Mellon Corp increased its stake in Insmed by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 314,494 shares of the biopharmaceutical company’s stock worth $5,507,000 after buying an additional 12,336 shares during the last quarter. Institutional investors and hedge funds own 92.63% of the company’s stock.
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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