Insmed (INSM) Raised to “Buy” at Zacks Investment Research

Insmed (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $33.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 5.57% from the stock’s current price.

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. “

INSM has been the subject of a number of other research reports. BidaskClub upgraded Insmed from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Cowen reiterated a “buy” rating and issued a $54.00 price objective on shares of Insmed in a report on Friday, November 3rd. Robert W. Baird reiterated a “positive” rating and issued a $42.00 price objective (up previously from $32.00) on shares of Insmed in a report on Thursday, January 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Insmed in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Insmed has a consensus rating of “Buy” and a consensus target price of $37.50.

Insmed (NASDAQ:INSM) traded up $0.25 on Tuesday, reaching $31.26. The company’s stock had a trading volume of 443,745 shares, compared to its average volume of 740,368. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.21 and a current ratio of 15.21. The company has a market capitalization of $2,390.00, a P/E ratio of -10.02 and a beta of 1.18. Insmed has a twelve month low of $11.49 and a twelve month high of $33.94.

In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total value of $487,500.00. Following the completion of the transaction, the director now owns 71,131 shares in the company, valued at $2,311,757.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Insmed in the second quarter worth $129,000. BNP Paribas Arbitrage SA grew its stake 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 worth $129,000 after acquiring an additional 6,520 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Insmed in the second quarter worth $187,000. Virtu KCG Holdings LLC purchased a new stake in shares of Insmed in the second quarter worth $201,000. Finally, Redmile Group LLC purchased a new stake in shares of Insmed in the second quarter worth $212,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

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About Insmed

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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