Insmed (NASDAQ:INSM) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Insmed (NASDAQ:INSM) from a strong sell rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on INSM. ValuEngine upgraded shares of Insmed from a hold rating to a buy rating in a research note on Wednesday. Goldman Sachs Group initiated coverage on shares of Insmed in a research note on Tuesday, September 3rd. They issued a buy rating and a $30.00 price objective for the company. Zacks Investment Research upgraded shares of Insmed from a hold rating to a buy rating and set a $25.00 target price for the company in a research report on Wednesday, July 17th. Finally, Credit Suisse Group restated a buy rating and issued a $40.00 target price on shares of Insmed in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $36.63.

Insmed stock traded down $0.19 during midday trading on Thursday, hitting $18.82. The company’s stock had a trading volume of 685,787 shares, compared to its average volume of 1,045,904. Insmed has a 1-year low of $11.31 and a 1-year high of $33.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.54 and a quick ratio of 7.31. The company has a 50-day moving average price of $17.65 and a two-hundred day moving average price of $25.06. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -4.51 and a beta of 2.98.



Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.04. The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $26.30 million. Sell-side analysts forecast that Insmed will post -3.02 EPS for the current year.

In other news, CEO William Lewis sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $26.00, for a total value of $10,400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 480,672 shares in the company, valued at approximately $12,497,472. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.95% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of INSM. Eagle Asset Management Inc. acquired a new position in shares of Insmed in the 2nd quarter valued at approximately $38,439,000. Vivo Capital LLC bought a new stake in shares of Insmed during the 1st quarter valued at approximately $34,020,000. Carillon Tower Advisers Inc. bought a new stake in shares of Insmed during the 2nd quarter valued at approximately $26,785,000. Vanguard Group Inc. grew its holdings in shares of Insmed by 12.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,979,937 shares of the biopharmaceutical company’s stock valued at $204,287,000 after purchasing an additional 896,047 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Insmed by 936.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 747,266 shares of the biopharmaceutical company’s stock valued at $19,130,000 after purchasing an additional 675,166 shares during the last quarter.

About Insmed

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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