Evercore ISI Initiates Coverage on Insmed, Inc. (INSM)
Investment analysts at Evercore ISI started coverage on shares of Insmed, Inc. (NASDAQ:INSM) in a report released on Wednesday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, April 26th. ValuEngine cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $23.00 target price on shares of Insmed in a research note on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.00.
Insmed (NASDAQ INSM) traded down 2.58% during mid-day trading on Wednesday, reaching $11.71. 351,768 shares of the company were exchanged. The stock has a 50-day moving average price of $15.90 and a 200 day moving average price of $16.34. Insmed has a one year low of $10.21 and a one year high of $19.35. The company’s market capitalization is $730.43 million.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by $0.09. Analysts predict that Insmed will post ($2.70) EPS for the current year.
In related news, General Counsel Christine A. Pellizzari bought 10,000 shares of the stock in a transaction on Wednesday, May 31st. The shares were acquired at an average price of $15.14 per share, for a total transaction of $151,400.00. Following the purchase, the general counsel now owns 27,300 shares of the company’s stock, valued at $413,322. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.10% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Insmed by 666.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 6,520 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Insmed during the second quarter valued at approximately $129,000. UBS Asset Management Americas Inc. acquired a new stake in Insmed during the second quarter valued at approximately $187,000. Driehaus Capital Management LLC acquired a new stake in Insmed during the first quarter valued at approximately $192,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Insmed during the second quarter valued at approximately $201,000. 92.63% of the stock is owned by hedge funds and other institutional investors.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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