Insmed Inc. (INSM) Stock Rating Upgraded by Zacks Investment Research
Insmed Inc. (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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 topic of several other research reports. HC Wainwright reiterated a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $24.00 price target on shares of Insmed in a report on Thursday, June 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Insmed currently has an average rating of “Buy” and an average price target of $23.57.
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Insmed (NASDAQ:INSM) traded down 0.61% on Wednesday, hitting $14.73. The company had a trading volume of 279,714 shares. The stock has a 50 day moving average of $13.04 and a 200-day moving average of $11.97. Insmed has a one year low of $9.02 and a one year high of $23.41. The stock’s market capitalization is $911.45 million.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.03. Equities analysts anticipate that Insmed will post ($2.25) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of INSM. Norges Bank bought a new position in Insmed during the fourth quarter worth $8,050,000. Teachers Advisors Inc. increased its stake in shares of Insmed by 1.2% in the first quarter. Teachers Advisors Inc. now owns 306,146 shares of the biopharmaceutical company’s stock worth $3,879,000 after buying an additional 3,658 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Insmed by 1.8% in the first quarter. BlackRock Fund Advisors now owns 2,291,187 shares of the biopharmaceutical company’s stock worth $29,029,000 after buying an additional 41,193 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Insmed by 4.3% in the first quarter. Geode Capital Management LLC now owns 424,851 shares of the biopharmaceutical company’s stock worth $5,382,000 after buying an additional 17,708 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Insmed during the first quarter worth approximately $2,329,000. Institutional investors own 90.57% of the company’s stock.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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