FY2018 EPS Estimates for Insmed, Inc. Cut by Analyst (INSM)
Insmed, Inc. (NASDAQ:INSM) – Leerink Swann reduced their FY2018 EPS estimates for Insmed in a research report issued to clients and investors on Tuesday. Leerink Swann analyst J. Schwartz now anticipates that the biopharmaceutical company will earn ($2.75) per share for the year, down from their previous estimate of ($2.61). Leerink Swann has a “Outperform” rating and a $36.00 price objective on the stock. Leerink Swann also issued estimates for Insmed’s FY2019 earnings at ($2.08) EPS.
Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by $0.09.
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Several other brokerages also recently commented on INSM. Stifel Nicolaus restated a “buy” rating and set a $43.00 target price (up from $27.00) on shares of Insmed in a report on Wednesday. Cowen and Company restated an “outperform” rating and set a $54.00 target price on shares of Insmed in a report on Wednesday. ValuEngine upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. HC Wainwright restated a “buy” rating on shares of Insmed in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Insmed has a consensus rating of “Buy” and an average price target of $34.50.
Shares of Insmed (NASDAQ:INSM) traded up 5.21% on Thursday, reaching $30.89. 7,974,618 shares of the company were exchanged. Insmed has a 12 month low of $10.21 and a 12 month high of $31.39. The stock has a 50 day moving average price of $14.72 and a 200-day moving average price of $16.25. The stock’s market capitalization is $1.93 billion.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Insmed during the 2nd quarter worth approximately $129,000. BNP Paribas Arbitrage SA grew its stake in shares of Insmed by 666.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 6,520 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Insmed during the 2nd quarter worth approximately $187,000. Driehaus Capital Management LLC bought a new position in shares of Insmed during the 1st quarter worth approximately $192,000. Finally, Virtu KCG Holdings LLC bought a new position in shares of Insmed during the 2nd quarter worth approximately $201,000. 89.64% of the stock is owned by 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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