Insmed (INSM) Shares Down 3.3%

Insmed Incorporated (NASDAQ:INSM) shares fell 3.3% during mid-day trading on Monday . The stock traded as low as $16.76 and last traded at $16.69. 20,793 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 894,684 shares. The stock had previously closed at $17.26.

Several research firms recently issued reports on INSM. Zacks Investment Research raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Credit Suisse Group increased their price target on shares of Insmed from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. BidaskClub lowered shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Morgan Stanley increased their price target on shares of Insmed from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. Finally, Goldman Sachs Group set a $25.00 price target on shares of Insmed and gave the stock a “hold” rating in a research report on Wednesday, September 19th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.14.

The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -6.01 and a beta of 1.30. The company has a current ratio of 14.14, a quick ratio of 14.14 and a debt-to-equity ratio of 0.83.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.08) by $0.08. On average, equities research analysts predict that Insmed Incorporated will post -4.11 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. Palo Alto Investors LP increased its holdings in shares of Insmed by 11.8% during the first quarter. Palo Alto Investors LP now owns 7,159,590 shares of the biopharmaceutical company’s stock worth $161,234,000 after buying an additional 755,004 shares in the last quarter. Foresite Capital Management II LLC grew its stake in shares of Insmed by 86.6% during the first quarter. Foresite Capital Management II LLC now owns 967,636 shares of the biopharmaceutical company’s stock valued at $21,791,000 after purchasing an additional 448,991 shares during the last quarter. Nexthera Capital LP grew its stake in shares of Insmed by 84.1% during the first quarter. Nexthera Capital LP now owns 918,523 shares of the biopharmaceutical company’s stock valued at $20,685,000 after purchasing an additional 419,602 shares during the last quarter. Voya Investment Management LLC grew 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 purchasing an additional 254,853 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Insmed during the first quarter valued at approximately $250,000.

Insmed Company Profile (NASDAQ:INSM)

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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