Analysts at Credit Suisse Group assumed coverage on shares of Insmed (NASDAQ:INSM) in a research note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $31.00 price target on the biopharmaceutical company’s stock. Credit Suisse Group’s target price points to a potential upside of 4.84% from the company’s current price.
A number of other brokerages also recently issued reports on INSM. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Insmed in a research note on Monday, November 6th. Zacks Investment Research downgraded Insmed from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Robert W. Baird reiterated a “positive” rating and set a $42.00 price objective (up from $32.00) on shares of Insmed in a research note on Thursday, January 4th. Cowen reiterated a “buy” rating and set a $54.00 price objective on shares of Insmed in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $37.00.
Shares of Insmed (NASDAQ:INSM) traded down $2.09 during trading hours on Wednesday, hitting $29.57. The company had a trading volume of 709,400 shares, compared to its average volume of 711,440. The company has a market cap of $2,310.00, a P/E ratio of -9.48 and a beta of 1.18. 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.
In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total value of $487,500.00. Following the completion of the transaction, the director now directly owns 71,131 shares in the company, valued at approximately $2,311,757.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Palo Alto Investors LLC raised its holdings in shares of Insmed by 1.6% during the 2nd quarter. Palo Alto Investors LLC now owns 5,621,816 shares of the biopharmaceutical company’s stock worth $96,470,000 after acquiring an additional 87,666 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Insmed by 140.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,748 shares of the biopharmaceutical company’s stock worth $123,615,000 after acquiring an additional 2,312,045 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Insmed by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock worth $65,687,000 after acquiring an additional 46,398 shares in the last quarter. State Street Corp raised its holdings in shares of Insmed by 15.2% during the 2nd quarter. State Street Corp now owns 1,728,017 shares of the biopharmaceutical company’s stock worth $29,651,000 after acquiring an additional 228,406 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Insmed by 1.4% during the 2nd quarter. Northern Trust Corp now owns 825,617 shares of the biopharmaceutical company’s stock worth $14,167,000 after acquiring an additional 11,539 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.
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About Insmed
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).