Robert W. Baird reiterated their positive rating on shares of Insmed, Inc. (NASDAQ:INSM) in a report released on Wednesday, September 6th. The firm currently has a $32.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $23.00.
A number of other brokerages have also recently commented on INSM. Leerink Swann upped their price target on Insmed from $27.00 to $36.00 and gave the company an outperform rating in a research note on Tuesday, September 5th. HC Wainwright reiterated a buy rating and issued a $35.00 price objective on shares of Insmed in a research report on Wednesday, September 6th. ValuEngine upgraded Insmed from a sell rating to a hold rating in a research report on Wednesday, September 6th. BidaskClub upgraded Insmed from a sell rating to a hold rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research upgraded Insmed from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $34.50.
Insmed (NASDAQ INSM) traded down 1.29% during trading on Wednesday, hitting $27.63. 1,299,399 shares of the company were exchanged. Insmed has a 12 month low of $10.21 and a 12 month high of $31.39. The company has a 50-day moving average of $17.16 and a 200-day moving average of $16.96. The company’s market capitalization is $1.72 billion.
Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.09). Analysts forecast that Insmed will post ($2.70) EPS for the current year.
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In other news, Director Donald J. Hayden, Jr. sold 45,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the sale, the director now directly owns 71,131 shares of the company’s stock, valued at approximately $2,110,456.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Melvin Md Sharoky sold 50,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $27.37, for a total value of $1,368,500.00. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Insmed by 666.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 6,520 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Insmed during the 2nd quarter worth $129,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Insmed during the 2nd quarter worth $187,000. Driehaus Capital Management LLC acquired a new stake in shares of Insmed during the 1st quarter worth $192,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Insmed in the second quarter valued at about $201,000. 89.64% of the stock is currently 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).
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