Insmed (NASDAQ:INSM)‘s stock had its “buy” rating restated by equities researchers at Cowen in a research note issued to investors on Monday, AnalystRatings.com reports. They currently have a $56.00 price target on the biopharmaceutical company’s stock. Cowen’s price objective points to a potential upside of 134.26% from the stock’s previous close.
A number of other equities research analysts have also recently commented on INSM. cut Insmed from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Canaccord Genuity initiated coverage on Insmed in a report on Thursday. They set a “buy” rating and a $20.00 price target on the stock. cut Insmed from a “buy” rating to a “hold” rating in a report on Thursday. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Thursday, October 31st. Finally, BidaskClub cut Insmed from a “buy” rating to a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.63.
NASDAQ:INSM traded up $0.16 on Monday, reaching $23.91. 1,072,944 shares of the company’s stock traded hands, compared to its average volume of 832,964. The company has a quick ratio of 6.70, a current ratio of 6.97 and a debt-to-equity ratio of 1.19. The stock has a 50-day simple moving average of $23.09 and a 200-day simple moving average of $20.40. The firm has a market cap of $2.11 billion, a PE ratio of -5.73 and a beta of 3.04. Insmed has a 12 month low of $15.33 and a 12 month high of $33.13.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). The business had revenue of $38.89 million for the quarter, compared to the consensus estimate of $35.89 million. Insmed had a negative net margin of 291.19% and a negative return on equity of 114.68%. During the same period in the prior year, the business earned ($1.14) earnings per share. On average, equities analysts anticipate that Insmed will post -2.91 earnings per share for the current year.
In other news, CAO John Goll sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.80, for a total transaction of $520,000.00. Company insiders own 4.95% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Insmed by 12.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,979,937 shares of the biopharmaceutical company’s stock valued at $204,287,000 after buying an additional 896,047 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Insmed by 936.4% in the second quarter. Point72 Asset Management L.P. now owns 747,266 shares of the biopharmaceutical company’s stock valued at $19,130,000 after acquiring an additional 675,166 shares in the last quarter. Vivo Capital LLC boosted its holdings in shares of Insmed by 49.4% in the second quarter. Vivo Capital LLC now owns 1,748,174 shares of the biopharmaceutical company’s stock valued at $44,753,000 after acquiring an additional 577,884 shares in the last quarter. Orbimed Advisors LLC purchased a new stake in shares of Insmed in the third quarter valued at about $9,919,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Insmed in the second quarter valued at about $10,241,000.
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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