Insmed (NASDAQ:INSM) Upgraded at StockNews.com

Posted by on Jun 8th, 2023

Insmed (NASDAQ:INSM – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

INSM has been the topic of a number of other reports. Cantor Fitzgerald reduced their price target on shares of Insmed from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, February 24th. Credit Suisse Group restated an “outperform” rating and set a $46.00 price target on shares of Insmed in a research report on Friday, February 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $52.00 price objective on shares of Insmed in a research report on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Insmed Stock Up 1.6 %

Shares of INSM opened at $19.78 on Thursday. The company has a quick ratio of 5.63, a current ratio of 6.01 and a debt-to-equity ratio of 13.13. The company has a 50-day moving average price of $18.50 and a two-hundred day moving average price of $19.09. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -4.63 and a beta of 1.53. Insmed has a 12 month low of $16.04 and a 12 month high of $28.94.

Insmed (NASDAQ:INSM – Get Rating) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.09). Insmed had a negative return on equity of 3,789.32% and a negative net margin of 212.33%. The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.93 million. During the same period in the previous year, the company posted ($0.80) earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Equities analysts predict that Insmed will post -4.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several large investors have recently bought and sold shares of INSM. Vanguard Group Inc. raised its position in shares of Insmed by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,353,970 shares of the biopharmaceutical company’s stock valued at $244,564,000 after acquiring an additional 106,326 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Insmed by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,977,911 shares of the biopharmaceutical company’s stock valued at $199,358,000 after buying an additional 429,664 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Insmed by 3.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,374,675 shares of the biopharmaceutical company’s stock valued at $167,327,000 after buying an additional 307,913 shares during the period. Palo Alto Investors LP boosted its holdings in Insmed by 0.3% during the first quarter. Palo Alto Investors LP now owns 5,889,491 shares of the biopharmaceutical company’s stock worth $100,416,000 after buying an additional 18,200 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Insmed by 9.3% during the 1st quarter. William Blair Investment Management LLC now owns 3,706,678 shares of the biopharmaceutical company’s stock worth $63,199,000 after buying an additional 316,513 shares during the period. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Insmed Company Profile

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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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