Insmed (NASDAQ:INSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Insmed in a research report on Monday, November 6th. Cowen reiterated a “buy” rating and issued a $54.00 price target on shares of Insmed in a research report on Friday, November 3rd. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Robert W. Baird reiterated a “positive” rating and issued a $42.00 price target (up from $32.00) on shares of Insmed in a research report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.50.

Insmed (NASDAQ INSM) traded up $0.40 during midday trading on Friday, hitting $31.66. 812,194 shares of the stock were exchanged, compared to its average volume of 743,442. The company has a current ratio of 15.21, a quick ratio of 15.21 and a debt-to-equity ratio of 0.13. Insmed has a 52 week low of $11.49 and a 52 week high of $33.94. The firm has a market capitalization of $2,420.00, a P/E ratio of -10.15 and a beta of 1.18.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.69). research analysts predict that Insmed will post -2.67 earnings per share for the current year.

In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.50, for a total transaction of $487,500.00. Following the completion of the transaction, the director now directly owns 71,131 shares in the company, valued at $2,311,757.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.03% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in INSM. SG Americas Securities LLC acquired a new position in Insmed during the second quarter valued at approximately $129,000. Bank of New York Mellon Corp raised its position in Insmed by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 330,873 shares of the biopharmaceutical company’s stock valued at $5,677,000 after purchasing an additional 16,379 shares in the last quarter. Legal & General Group Plc raised its position in Insmed by 2.0% during the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 390 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Insmed by 666.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 6,520 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Insmed by 4.4% during the second quarter. Alliancebernstein L.P. now owns 90,700 shares of the biopharmaceutical company’s stock valued at $1,556,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

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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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