Insmed (INSM) Downgraded to Buy at ValuEngine

ValuEngine cut shares of Insmed (NASDAQ:INSM) from a strong-buy rating to a buy rating in a research note published on Tuesday, February 5th.

Several other research firms have also commented on INSM. Zacks Investment Research upgraded shares of Insmed from a hold rating to a buy rating and set a $28.00 price objective for the company in a research note on Tuesday, January 22nd. Citigroup reduced their price objective on shares of Insmed from $29.00 to $22.00 and set a neutral rating for the company in a research note on Tuesday, December 4th. BidaskClub upgraded shares of Insmed from a hold rating to a buy rating in a research note on Wednesday, November 21st. Canaccord Genuity assumed coverage on shares of Insmed in a research note on Wednesday, January 2nd. They set a buy rating and a $20.00 price objective for the company. Finally, Goldman Sachs Group upgraded shares of Insmed from a neutral rating to a buy rating and boosted their price objective for the stock from $29.00 to $35.00 in a research note on Thursday, January 17th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $34.38.

Insmed stock traded up $1.31 during trading hours on Tuesday, hitting $30.96. The company had a trading volume of 973,345 shares, compared to its average volume of 757,013. Insmed has a 1 year low of $11.31 and a 1 year high of $31.58. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -7.42 and a beta of 2.91. The company has a debt-to-equity ratio of 1.07, a current ratio of 10.06 and a quick ratio of 10.06.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Friday, February 22nd. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.06). The firm had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $5.01 million. Research analysts expect that Insmed will post -3.83 earnings per share for the current year.

In other Insmed news, Director Alfred Altomari sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $22.50, for a total transaction of $123,750.00. Following the transaction, the director now owns 42,442 shares in the company, valued at approximately $954,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald J. Hayden, Jr. sold 14,900 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $28.08, for a total transaction of $418,392.00. Following the completion of the sale, the director now owns 77,097 shares in the company, valued at approximately $2,164,883.76. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock worth $995,892 in the last 90 days. 3.88% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Insmed by 260.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 782,614 shares of the biopharmaceutical company’s stock valued at $10,268,000 after buying an additional 565,297 shares during the last quarter. Amalgamated Bank acquired a new stake in Insmed during the fourth quarter worth about $151,000. Millennium Management LLC acquired a new stake in Insmed during the fourth quarter worth about $146,000. Legal & General Group Plc increased its position in Insmed by 4.5% during the fourth quarter. Legal & General Group Plc now owns 29,336 shares of the biopharmaceutical company’s stock worth $385,000 after purchasing an additional 1,263 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Insmed during the fourth quarter worth about $101,000.

About Insmed

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

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Analyst Recommendations for Insmed (NASDAQ:INSM)

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