Morgan Stanley began coverage on shares of Insmed (NASDAQ:INSM) in a report published on Wednesday. The brokerage issued an overweight rating and a $39.00 price target on the biopharmaceutical company’s stock.
INSM has been the topic of a number of other research reports. Zacks Investment Research downgraded Insmed from a buy rating to a hold rating in a research note on Thursday, January 18th. BidaskClub raised Insmed from a sell rating to a hold rating in a research note on Saturday, March 10th. ValuEngine raised Insmed from a sell rating to a hold rating in a research note on Friday, February 2nd. Finally, Credit Suisse Group assumed coverage on Insmed in a research note on Wednesday, January 17th. They issued a neutral rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $36.90.
INSM stock traded down $0.36 during mid-day trading on Wednesday, hitting $24.49. The stock had a trading volume of 13,874 shares, compared to its average volume of 870,086. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.72 and a current ratio of 8.72. The firm has a market cap of $1,867.94, a P/E ratio of -8.69 and a beta of 1.13. Insmed has a one year low of $11.49 and a one year high of $33.94.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Friday, February 23rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.18). analysts predict that Insmed will post -3.64 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its stake in Insmed by 11.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,035 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 1,618 shares during the period. American International Group Inc. raised its stake in Insmed by 4.6% during the 4th quarter. American International Group Inc. now owns 51,539 shares of the biopharmaceutical company’s stock worth $1,607,000 after buying an additional 2,255 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Insmed by 137.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 2,698 shares during the period. Swiss National Bank raised its stake in Insmed by 2.4% during the 4th quarter. Swiss National Bank now owns 119,600 shares of the biopharmaceutical company’s stock worth $3,729,000 after buying an additional 2,800 shares during the period. Finally, Moody Aldrich Partners LLC raised its stake in Insmed by 14.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 24,580 shares of the biopharmaceutical company’s stock worth $767,000 after buying an additional 3,170 shares during the period. 99.08% of the stock is currently owned by institutional investors and hedge funds.
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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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