Insmed (NASDAQ:INSM) Rating Lowered to Sell at StockNews.com

Insmed (NASDAQ:INSM) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other equities analysts have also weighed in on INSM. Truist Financial started coverage on shares of Insmed in a report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price objective on the stock. Wolfe Research assumed coverage on shares of Insmed in a report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 target price on shares of Insmed in a report on Monday, April 1st. UBS Group assumed coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Guggenheim increased their price objective on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.92.

Insmed Stock Up 0.5 %

Shares of Insmed stock opened at $26.08 on Monday. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -4.88 and a beta of 0.93. The company’s fifty day moving average is $26.65 and its 200 day moving average is $27.08. Insmed has a twelve month low of $18.08 and a twelve month high of $32.00.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The business had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. The company’s revenue was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.20) earnings per share. As a group, equities analysts anticipate that Insmed will post -4.65 earnings per share for the current fiscal year.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Insmed by 10.7% during the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 463 shares in the last quarter. Arizona State Retirement System raised its position in shares of Insmed by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 526 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Insmed by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after buying an additional 622 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Insmed by 2.5% during the 4th quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after buying an additional 700 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Insmed during the 4th quarter valued at $25,000.

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.