Insmed (NASDAQ:INSM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $25.00 price objective on the biopharmaceutical company’s stock.

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. “

A number of other equities research analysts also recently weighed in on INSM. BidaskClub downgraded Ames National from a hold rating to a sell rating in a research report on Wednesday. ValuEngine downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. Finally, HC Wainwright restated a buy rating and set a $52.00 price target (up previously from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Insmed currently has a consensus rating of Buy and an average target price of $36.63.

NASDAQ INSM opened at $22.14 on Wednesday. The company’s 50-day moving average price is $24.34. Insmed has a twelve month low of $11.31 and a twelve month high of $33.13. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $1.70 billion, a P/E ratio of -5.31 and a beta of 2.82.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.02). The business had revenue of $21.90 million during the quarter, compared to analyst estimates of $19.61 million. Analysts expect that Insmed will post -3.58 earnings per share for the current year.

In related news, CEO William Lewis sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total value of $10,400,000.00. Following the sale, the chief executive officer now directly owns 480,672 shares of the company’s stock, valued at $12,497,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $23.24, for a total value of $278,880.00. Following the completion of the sale, the insider now directly owns 36,350 shares in the company, valued at $844,774. The disclosure for this sale can be found here. 4.95% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Insmed in the first quarter worth about $75,000. NumerixS Investment Technologies Inc bought a new stake in shares of Insmed in the first quarter worth about $106,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Insmed in the fourth quarter worth about $101,000. Shell Asset Management Co. bought a new stake in shares of Insmed in the first quarter worth about $273,000. Finally, Millennium Management LLC bought a new stake in shares of Insmed in the fourth quarter worth about $146,000.

About Insmed

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.

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