Robert W. Baird reiterated their positive rating on shares of Insmed (NASDAQ:INSM) in a research note released on Thursday, January 4th, The Fly reports. The firm currently has a $42.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $32.00.
Several other research firms have also recently weighed in on INSM. ValuEngine upgraded shares of Insmed from a sell rating to a hold rating in a research note on Wednesday, September 6th. HC Wainwright reiterated a buy rating and issued a $35.00 target price on shares of Insmed in a research note on Wednesday, September 6th. Stifel Nicolaus reiterated a buy rating and issued a $43.00 target price (up previously from $27.00) on shares of Insmed in a research note on Wednesday, September 6th. Cowen reiterated an outperform rating and issued a $54.00 target price on shares of Insmed in a research note on Wednesday, September 6th. Finally, Zacks Investment Research cut shares of Insmed from a hold rating to a sell rating in a research note on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $37.50.
Insmed (NASDAQ INSM) traded up $0.25 during mid-day trading on Thursday, reaching $31.26. 443,700 shares of the company’s stock were exchanged, compared to its average volume of 699,112. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21. Insmed has a one year low of $11.49 and a one year high of $33.94. The company has a market capitalization of $2,390.00, a PE ratio of -10.02 and a beta of 1.18.
In other news, Director Donald J. Hayden, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.50, for a total transaction of $487,500.00. Following the completion of the sale, the director now owns 71,131 shares of the company’s stock, valued at $2,311,757.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in shares of Insmed by 666.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 6,520 shares in the last quarter. SG Americas Securities LLC bought a new position in Insmed in the second quarter valued at approximately $129,000. UBS Asset Management Americas Inc. bought a new position in Insmed in the second quarter valued at approximately $187,000. Virtu KCG Holdings LLC bought a new position in Insmed in the second quarter valued at approximately $201,000. Finally, Redmile Group LLC bought a new position in Insmed in the second quarter valued at approximately $212,000. 95.28% of the stock is owned by institutional investors and hedge funds.
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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