ValuEngine Upgrades Insmed (NASDAQ:INSM) to “Buy”

Insmed (NASDAQ:INSM) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities analysts have also commented on the stock. Credit Suisse Group restated a “buy” rating and issued a $40.00 price target on shares of Insmed in a research report on Tuesday. Goldman Sachs Group assumed coverage on shares of Insmed in a report on Tuesday, September 3rd. They set a “buy” rating and a $30.00 price objective for the company. BidaskClub cut shares of Insmed from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Insmed presently has an average rating of “Buy” and a consensus target price of $36.63.

Shares of NASDAQ:INSM traded up $1.01 on Wednesday, hitting $19.21. The stock had a trading volume of 790,252 shares, compared to its average volume of 1,045,037. The firm’s 50 day moving average price is $17.65 and its 200-day moving average price is $25.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 7.31 and a current ratio of 7.54. Insmed has a twelve month low of $11.31 and a twelve month high of $33.13. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -4.61 and a beta of 2.98.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.04. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $26.30 million. As a group, sell-side analysts predict that Insmed will post -3.02 EPS for the current year.

In related news, CEO William Lewis sold 400,000 shares of Insmed 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.95% of the company’s stock.

A number of large investors have recently modified their holdings of INSM. Point72 Hong Kong Ltd acquired a new stake in Insmed in the 2nd quarter valued at about $34,000. Strs Ohio acquired a new position in shares of Insmed during the first quarter worth approximately $75,000. Riverhead Capital Management LLC bought a new stake in shares of Insmed during the second quarter valued at approximately $73,000. NumerixS Investment Technologies Inc bought a new stake in shares of Insmed during the first quarter valued at approximately $106,000. Finally, Tyers Asset Management LLC grew its stake in shares of Insmed by 1,002.5% during the second quarter. Tyers Asset Management LLC now owns 7,056 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 6,416 shares during the last quarter.

Insmed Company Profile

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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Analyst Recommendations for Insmed (NASDAQ:INSM)

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