Insmed Incorporated (NASDAQ:INSM) shares traded up 0% on Thursday . The stock traded as high as $30.89 and last traded at $30.70. 848,067 shares changed hands during trading, an increase of 21% from the average session volume of 699,407 shares. The stock had previously closed at $30.70.
Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Insmed in a report on Wednesday, September 6th. Evercore ISI boosted their price target on shares of Insmed from $28.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, September 5th. Robert W. Baird restated a “positive” rating and set a $32.00 price target (up from $23.00) on shares of Insmed in a report on Wednesday, September 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $43.00 price target (up from $27.00) on shares of Insmed in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $34.50.
The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board bought a new stake in shares of Insmed in the second quarter valued at approximately $789,000. Pictet Asset Management Ltd. raised its position in shares of Insmed by 5.6% in the third quarter. Pictet Asset Management Ltd. now owns 138,543 shares of the biopharmaceutical company’s stock valued at $4,324,000 after purchasing an additional 7,400 shares during the period. Vanguard Group Inc. raised its position in shares of Insmed by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,827,881 shares of the biopharmaceutical company’s stock valued at $65,687,000 after purchasing an additional 46,398 shares during the period. Teachers Advisors LLC raised its position in shares of Insmed by 4.9% in the second quarter. Teachers Advisors LLC now owns 193,807 shares of the biopharmaceutical company’s stock valued at $3,326,000 after purchasing an additional 9,014 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Insmed in the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.
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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