StockNews.com Lowers Insmed (NASDAQ:INSM) to Sell

StockNews.com downgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a report published on Monday.

A number of other research firms have also issued reports on INSM. Truist Financial began coverage on Insmed in a report on Tuesday, April 23rd. They issued a buy rating and a $48.00 target price on the stock. Barclays lifted their target price on shares of Insmed from $37.00 to $40.00 and gave the company an overweight rating in a report on Thursday, April 11th. UBS Group initiated coverage on shares of Insmed in a research report on Tuesday, February 27th. They issued a buy rating and a $46.00 price objective for the company. Wolfe Research assumed coverage on Insmed in a research report on Thursday, February 15th. They set an outperform rating and a $42.00 target price on the stock. Finally, Guggenheim lifted their price target on Insmed from $52.00 to $54.00 and gave the company a buy rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $44.92.

Insmed Trading Down 0.3 %

Shares of INSM opened at $26.00 on Monday. The company’s 50 day simple moving average is $26.61 and its 200-day simple moving average is $27.07. Insmed has a 12-month low of $18.08 and a 12-month high of $32.00. The firm has a market cap of $3.86 billion, a PE ratio of -4.87 and a beta of 0.93.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 the consensus estimate of $82.15 million. During the same quarter in the previous year, the company posted ($1.20) EPS. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, equities research analysts forecast that Insmed will post -4.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Insmed by 10.7% in the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 463 shares during the last quarter. Arizona State Retirement System increased its position in Insmed by 1.4% during the third quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock worth $981,000 after buying an additional 526 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Insmed by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 610 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Insmed by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after acquiring an additional 622 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Insmed by 2.5% during the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 700 shares during the last quarter.

Insmed Company Profile

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.