Insmed Inc. (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 a number of other research reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price target on shares of Insmed in a report on Thursday, June 9th. HC Wainwright reissued a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.57.

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Shares of Insmed (NASDAQ:INSM) traded down 0.61% during mid-day trading on Wednesday, hitting $14.73. 279,714 shares of the company traded hands. Insmed has a 1-year low of $9.02 and a 1-year high of $23.41. The firm’s 50 day moving average price is $13.04 and its 200-day moving average price is $11.97. 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 analysts’ consensus estimates of ($0.56) by $0.03. On average, equities research analysts forecast that Insmed will post ($2.25) EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Insmed by 7.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 237,824 shares of the biopharmaceutical company’s stock worth $2,345,000 after buying an additional 17,360 shares during the period. Palo Alto Investors LLC boosted its position in shares of Insmed by 5.5% in the second quarter. Palo Alto Investors LLC now owns 5,054,713 shares of the biopharmaceutical company’s stock worth $49,839,000 after buying an additional 263,913 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Insmed during the second quarter worth about $1,985,000. Highbridge Capital Management LLC acquired a new position in shares of Insmed during the second quarter worth about $507,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Insmed during the second quarter worth about $278,000. 90.57% of the stock is owned by institutional investors.

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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