Insmed, Inc. (INSM) Receives Consensus Recommendation of “Hold” from Brokerages

Insmed, Inc. (NASDAQ:INSM) has been given a consensus rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.75.

Several research firms have recently issued reports on INSM. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, April 26th. Stifel Nicolaus increased their price objective on shares of Insmed from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Robert W. Baird began coverage on shares of Insmed in a research report on Monday, July 10th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a research report on Wednesday, August 2nd.

In related news, General Counsel Christine A. Pellizzari purchased 10,000 shares of Insmed stock in a transaction on Wednesday, May 31st. The stock was acquired at an average cost of $15.14 per share, for a total transaction of $151,400.00. Following the completion of the acquisition, the general counsel now owns 27,300 shares of the company’s stock, valued at approximately $413,322. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.03% of the company’s stock.

Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Insmed by 2.0% in the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock worth $347,000 after buying an additional 390 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Insmed by 2.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 45,122 shares of the biopharmaceutical company’s stock worth $597,000 after buying an additional 995 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Insmed by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 213,525 shares of the biopharmaceutical company’s stock worth $3,664,000 after buying an additional 1,857 shares during the last quarter. American International Group Inc. boosted its stake in Insmed by 7.1% in the first quarter. American International Group Inc. now owns 38,127 shares of the biopharmaceutical company’s stock worth $668,000 after buying an additional 2,517 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Insmed by 4.4% in the second quarter. Alliancebernstein L.P. now owns 90,700 shares of the biopharmaceutical company’s stock worth $1,556,000 after buying an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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Shares of Insmed (NASDAQ INSM) opened at 11.75 on Tuesday. The firm’s market cap is $732.93 million. The firm’s 50-day moving average is $16.40 and its 200-day moving average is $16.39. Insmed has a 12-month low of $10.21 and a 12-month high of $19.35.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. Analysts predict that Insmed will post ($2.70) earnings per share for the current fiscal year.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).

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