Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday. HC Wainwright restated a buy rating and set a $52.00 price objective (up previously from $43.00) on shares of Insmed in a report on Tuesday, April 9th. Finally, Zacks Investment Research cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $36.63.
Shares of NASDAQ:INSM opened at $22.14 on Wednesday. Insmed has a 12-month low of $11.31 and a 12-month high of $33.13. The company has a market capitalization of $1.70 billion, a PE ratio of -5.31 and a beta of 2.82. The stock’s 50 day moving average price is $24.34. The company has a current ratio of 4.82, a quick ratio of 4.69 and a debt-to-equity ratio of 2.48.
In other news, CEO William Lewis sold 400,000 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the transaction, the chief executive officer now owns 480,672 shares of the company’s stock, valued at approximately $12,497,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $23.24, for a total transaction of $278,880.00. Following the transaction, the insider now directly owns 36,350 shares in the company, valued at approximately $844,774. The disclosure for this sale can be found here. Corporate insiders own 4.95% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Insmed by 0.6% during the 1st quarter. FMR LLC now owns 11,630,784 shares of the biopharmaceutical company’s stock worth $338,107,000 after purchasing an additional 67,250 shares in the last quarter. Vivo Capital LLC bought a new position in Insmed in the 1st quarter valued at $34,020,000. Emerald Advisers LLC boosted its holdings in Insmed by 52.8% in the 1st quarter. Emerald Advisers LLC now owns 921,527 shares of the biopharmaceutical company’s stock valued at $26,789,000 after purchasing an additional 318,482 shares during the period. Geode Capital Management LLC boosted its holdings in Insmed by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 866,489 shares of the biopharmaceutical company’s stock valued at $11,368,000 after purchasing an additional 55,026 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Insmed by 64.1% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 841,119 shares of the biopharmaceutical company’s stock valued at $24,451,000 after purchasing an additional 328,472 shares during the period.
Insmed Company Profile
Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.
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