Insmed (INSM) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other brokerages also recently commented on INSM. Morgan Stanley increased their target price on shares of Insmed from $37.00 to $39.00 and gave the company an overweight rating in a report on Monday, August 6th. JMP Securities downgraded shares of Insmed from an outperform rating to a market perform rating in a report on Monday, August 6th. HC Wainwright reiterated a buy rating and issued a $43.00 target price on shares of Insmed in a report on Friday, August 3rd. Zacks Investment Research upgraded shares of Insmed from a sell rating to a hold rating in a report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Insmed from a strong-buy rating to a buy rating in a report on Tuesday, September 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $35.50.

Insmed stock opened at $17.14 on Wednesday. Insmed has a 1-year low of $13.85 and a 1-year high of $33.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 10.06 and a quick ratio of 10.06.

Insmed (NASDAQ:INSM) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.08). Research analysts predict that Insmed will post -4.11 earnings per share for the current fiscal year.

In related news, insider Roger Adsett acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average price of $15.97 per share, for a total transaction of $47,910.00. Following the completion of the acquisition, the insider now owns 18,594 shares of the company’s stock, valued at approximately $296,946.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis acquired 15,700 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $15.90 per share, with a total value of $249,630.00. Following the acquisition, the chief executive officer now directly owns 151,247 shares of the company’s stock, valued at approximately $2,404,827.30. The disclosure for this purchase can be found here. In the last quarter, insiders bought 54,785 shares of company stock valued at $871,726. 3.88% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in Insmed by 5.1% during the second quarter. Swiss National Bank now owns 133,400 shares of the biopharmaceutical company’s stock worth $3,155,000 after buying an additional 6,500 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in Insmed by 65.9% during the second quarter. Chartwell Investment Partners LLC now owns 87,298 shares of the biopharmaceutical company’s stock worth $2,065,000 after buying an additional 34,670 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Insmed during the second quarter worth about $122,000. State of Wisconsin Investment Board increased its holdings in Insmed by 5.1% during the second quarter. State of Wisconsin Investment Board now owns 78,000 shares of the biopharmaceutical company’s stock worth $1,845,000 after buying an additional 3,800 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Insmed during the second quarter worth about $3,030,000.

About Insmed

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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