Insmed, Inc. (INSM) Now Covered by Evercore ISI
Equities researchers at Evercore ISI began coverage on shares of Insmed, Inc. (NASDAQ:INSM) in a research note issued to investors on Wednesday. The firm set an “outperform” rating and a $28.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price target suggests a potential upside of 139.11% from the company’s current price.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Stifel Nicolaus reissued a “buy” rating and issued a $23.00 target price on shares of Insmed in a report on Tuesday, April 18th. Robert W. Baird began coverage on Insmed in a report on Monday, July 10th. They issued an “outperform” rating and a $23.00 target price for the company. BidaskClub raised Insmed from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Finally, ValuEngine downgraded Insmed from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.00.
Insmed (NASDAQ:INSM) opened at 11.71 on Wednesday. The company’s 50-day moving average price is $15.73 and its 200 day moving average price is $16.31. Insmed has a 12 month low of $10.21 and a 12 month high of $19.35. The firm’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.
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In other news, General Counsel Christine A. Pellizzari bought 10,000 shares of Insmed stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average cost of $15.14 per share, with a total value of $151,400.00. Following the acquisition, the general counsel now owns 27,300 shares of the company’s stock, valued at $413,322. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 4.03% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Insmed during the second quarter valued at $129,000. BNP Paribas Arbitrage SA increased 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. UBS Asset Management Americas Inc. purchased a new stake in Insmed during the second quarter valued at $187,000. Driehaus Capital Management LLC purchased a new stake in Insmed during the first quarter valued at $192,000. Finally, Virtu KCG Holdings LLC purchased a new stake in Insmed during the second quarter valued at $201,000. 92.63% of the stock is owned by institutional investors and hedge funds.
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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