Insmed, Inc. (NASDAQ:INSM) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird started coverage on shares of Insmed, Inc. (NASDAQ:INSM) in a research note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

INSM has been the subject of a number of other reports. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and set a $23.00 target price on shares of Insmed in a research report on Tuesday, April 18th. Citigroup Inc. restated a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of Insmed in a research report on Sunday, June 11th. Finally, ValuEngine upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $21.75.

Shares of Insmed (INSM) traded down 2.72% during trading on Monday, hitting $16.80. The company had a trading volume of 217,833 shares. The stock’s 50-day moving average is $16.56 and its 200 day moving average is $15.95. Insmed has a 52-week low of $10.21 and a 52-week high of $19.35. The firm’s market capitalization is $1.04 billion.

Insmed (NASDAQ:INSM) last issued its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.60). Equities research analysts predict that Insmed will post ($2.48) earnings per share for the current fiscal year.

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In related news, General Counsel Christine A. Pellizzari bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $15.14 per share, with a total value of $151,400.00. Following the transaction, the general counsel now owns 27,300 shares of the company’s stock, valued at $413,322. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 4.03% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new stake in Insmed during the first quarter valued at $192,000. Parametric Portfolio Associates LLC increased its stake in Insmed by 39.2% in the first quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 4,063 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Insmed during the fourth quarter valued at $242,000. Bank of America Corp DE increased its stake in Insmed by 191.4% in the first quarter. Bank of America Corp DE now owns 33,804 shares of the biopharmaceutical company’s stock valued at $592,000 after buying an additional 22,204 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Insmed during the first quarter valued at $609,000. 92.01% of the stock is owned by institutional investors.

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).

The Fly

Analyst Recommendations for Insmed (NASDAQ:INSM)

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