Insmed Incorporated (INSM) Given Consensus Rating of “Hold” by Brokerages
Shares of Insmed Incorporated (NASDAQ:INSM) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $23.75.
INSM has been the topic of several recent research reports. BidaskClub downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Insmed from a “buy” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Wednesday, August 2nd. Finally, Robert W. Baird initiated coverage on shares of Insmed in a report on Monday, July 10th. They issued an “outperform” rating and a $23.00 price target on the stock.
In other news, General Counsel Christine A. Pellizzari acquired 10,000 shares of Insmed stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average price of $15.14 per share, with a total value of $151,400.00. Following the completion of the purchase, the general counsel now owns 27,300 shares of the company’s stock, valued at approximately $413,322. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.03% of the company’s stock.
Several institutional investors have recently made changes to their positions in INSM. Janus Henderson Group PLC purchased a new position in shares of Insmed during the second quarter valued at about $28,292,000. Norges Bank purchased a new position in shares of Insmed during the fourth quarter valued at about $3,635,000. Emerald Advisers Inc. PA increased its position in shares of Insmed by 23.0% in the second quarter. Emerald Advisers Inc. PA now owns 1,285,365 shares of the biopharmaceutical company’s stock valued at $22,057,000 after buying an additional 240,048 shares during the last quarter. State Street Corp increased its position in shares of Insmed by 15.2% in the second quarter. State Street Corp now owns 1,728,017 shares of the biopharmaceutical company’s stock valued at $29,651,000 after buying an additional 228,406 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Insmed by 26.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,036,283 shares of the biopharmaceutical company’s stock valued at $17,783,000 after buying an additional 218,933 shares during the last quarter. 92.63% of the stock is currently owned by institutional investors and hedge funds.
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Insmed (NASDAQ INSM) opened at 12.61 on Friday. Insmed has a 12 month low of $10.21 and a 12 month high of $19.35. The stock has a 50 day moving average price of $14.80 and a 200 day moving average price of $16.17. The stock’s market capitalization is $786.57 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 consensus estimate of ($0.63) by $0.09. Equities analysts predict that Insmed will post ($2.69) EPS for the current fiscal year.
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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