Insmed (NASDAQ:INSM – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $23.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 30.16% from the stock’s current price.
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. “
Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group started coverage on shares of Insmed in a research report on Wednesday, April 27th. They issued a “buy” rating and a $56.00 price objective on the stock. StockNews.com started coverage on shares of Insmed in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, SVB Leerink lowered their price target on shares of Insmed from $57.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of “Buy” and an average target price of $49.14.
Shares of Insmed stock opened at $17.67 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.19 and a quick ratio of 5.70. The firm has a market cap of $2.10 billion, a P/E ratio of -4.67 and a beta of 2.06. The firm has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $25.33. Insmed has a fifty-two week low of $17.08 and a fifty-two week high of $34.44.
Insmed (NASDAQ:INSM – Get Rating) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The firm had revenue of $53.10 million during the quarter, compared to analyst estimates of $53.36 million. Insmed had a negative net margin of 217.35% and a negative return on equity of 87.87%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.89) EPS. On average, sell-side analysts expect that Insmed will post -3.65 EPS for the current year.
In related news, CEO William Lewis sold 96,614 shares of the company’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $23.16, for a total value of $2,237,580.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of INSM. Spire Wealth Management bought a new position in Insmed in the 4th quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in shares of Insmed during the fourth quarter worth $45,000. Advisor Group Holdings Inc. grew its holdings in Insmed by 56.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,140 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 772 shares during the period. Lindbrook Capital LLC acquired a new stake in Insmed in the fourth quarter worth $59,000. Finally, US Bancorp DE lifted its stake in shares of Insmed by 367.9% in the third quarter. US Bancorp DE now owns 2,569 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 2,020 shares in the last quarter.
About Insmed (Get Rating)
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Insmed Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Insmed and related companies with MarketBeat.com’s FREE daily email newsletter.