BidaskClub Lowers Insmed (NASDAQ:INSM) to Sell
Other analysts have also issued research reports about the stock. HC Wainwright reiterated a buy rating and issued a $52.00 target price (up previously from $43.00) on shares of Insmed in a research note on Tuesday, April 9th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 11th. Finally, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $37.88.
NASDAQ:INSM opened at $23.44 on Tuesday. The company has a fifty day moving average of $24.92. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -5.62 and a beta of 2.82. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48. Insmed has a twelve month low of $11.31 and a twelve month high of $33.13.
In other news, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the sale, the insider now directly owns 36,350 shares of the company’s stock, valued at $844,774. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lewis sold 400,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 480,672 shares in the company, valued at $12,497,472. The disclosure for this sale can be found here. 4.95% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Insmed by 4.5% in the fourth quarter. Legal & General Group Plc now owns 29,336 shares of the biopharmaceutical company’s stock worth $385,000 after purchasing an additional 1,263 shares during the last quarter. Strs Ohio bought a new position in shares of Insmed in the first quarter worth approximately $75,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Insmed by 22.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,498 shares of the biopharmaceutical company’s stock worth $596,000 after purchasing an additional 3,690 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Insmed in the first quarter worth approximately $106,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Insmed during the fourth quarter valued at approximately $101,000.
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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