Insmed Inc. (NASDAQ:INSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Insmed is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. Insmed is also focused on the development of INS1009, the company’s inhaled treprostinil prodrug for the treatment of pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder characterized by abnormally high blood pressure in the arteries between the heart and lungs. “
Several other research firms have also recently weighed in on INSM. Piper Jaffray Cos. set a $24.00 price objective on shares of Insmed and gave the company a “buy” rating in a research report on Sunday, August 21st. HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.57.
Insmed (NASDAQ:INSM) opened at 14.52 on Thursday. Insmed has a one year low of $9.02 and a one year high of $21.14. The stock’s 50 day moving average is $13.63 and its 200 day moving average is $12.08. The firm’s market cap is $898.45 million.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. On average, analysts predict that Insmed will post ($2.25) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in INSM. BlackRock Fund Advisors raised its position in Insmed by 1.8% in the first quarter. BlackRock Fund Advisors now owns 2,291,187 shares of the biopharmaceutical company’s stock valued at $29,029,000 after buying an additional 41,193 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Insmed by 1.5% in the second quarter. Jennison Associates LLC now owns 1,195,455 shares of the biopharmaceutical company’s stock worth $11,787,000 after buying an additional 17,951 shares during the period. Teachers Advisors Inc. raised its stake in shares of Insmed by 1.2% in the first quarter. Teachers Advisors Inc. now owns 306,146 shares of the biopharmaceutical company’s stock worth $3,879,000 after buying an additional 3,658 shares during the period. RidgeWorth Capital Management LLC raised its stake in shares of Insmed by 52.2% in the second quarter. RidgeWorth Capital Management LLC now owns 29,843 shares of the biopharmaceutical company’s stock worth $301,000 after buying an additional 10,241 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Insmed by 4.1% in the second quarter. TD Asset Management Inc. now owns 238,400 shares of the biopharmaceutical company’s stock worth $2,351,000 after buying an additional 9,300 shares during the period. 90.57% of the stock is currently owned by institutional investors.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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