Shares of Insmed Incorporated (NASDAQ:INSM) have been given a consensus rating of “Buy” by the thirteen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $40.00.
A number of brokerages have weighed in on INSM. Morgan Stanley raised their target price on shares of Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. BidaskClub lowered shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Goldman Sachs Group began coverage on shares of Insmed in a research report on Monday, July 23rd. They issued a “neutral” rating and a $32.00 target price on the stock. Zacks Investment Research upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, Credit Suisse Group upgraded shares of Insmed from a “neutral” rating to an “outperform” rating and raised their target price for the company from $27.00 to $31.00 in a research report on Monday, April 23rd.
Shares of NASDAQ INSM traded down $0.08 during trading hours on Friday, hitting $20.92. 888,000 shares of the stock were exchanged, compared to its average volume of 838,362. The company has a current ratio of 14.14, a quick ratio of 14.14 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.35 and a beta of 1.07. Insmed has a 1-year low of $11.83 and a 1-year high of $33.94.
In other Insmed news, insider Orlov S. Nicole Schaeffer sold 25,991 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $28.24, for a total value of $733,985.84. Following the sale, the insider now owns 22,253 shares in the company, valued at $628,424.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.88% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC raised its stake in shares of Insmed by 12.4% during the second quarter. MetLife Investment Advisors LLC now owns 37,652 shares of the biopharmaceutical company’s stock valued at $890,000 after acquiring an additional 4,160 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Insmed during the second quarter valued at $1,656,000. Cubist Systematic Strategies LLC bought a new position in shares of Insmed during the second quarter valued at $200,000. Voya Investment Management LLC raised its stake in shares of Insmed by 31.9% during the second quarter. Voya Investment Management LLC now owns 1,053,468 shares of the biopharmaceutical company’s stock valued at $24,914,000 after acquiring an additional 254,853 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Insmed during the second quarter valued at $200,000.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
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