Insmed (NASDAQ:INSM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cowen in a research note issued on Monday, January 6th, AnalystRatings.com reports. They currently have a $56.00 price target on the biopharmaceutical company’s stock. Cowen’s price target indicates a potential upside of 141.07% from the stock’s current price.
Other analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Thursday, October 31st. Morgan Stanley set a $37.00 price objective on shares of Insmed and gave the company a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity started coverage on Insmed in a report on Thursday, January 2nd. They issued a “buy” rating and a $20.00 price target for the company. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price target on shares of Insmed in a research report on Thursday, January 2nd. Finally, ValuEngine cut Insmed from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.63.
INSM traded down $0.94 during trading on Monday, hitting $23.23. 61,929 shares of the company traded hands, compared to its average volume of 793,536. The stock’s fifty day moving average is $23.83 and its 200 day moving average is $20.36. The company has a quick ratio of 6.70, a current ratio of 6.97 and a debt-to-equity ratio of 1.19. Insmed has a one year low of $15.33 and a one year high of $33.13. The firm has a market cap of $2.22 billion, a P/E ratio of -5.55 and a beta of 3.04.
In other news, CAO John Goll sold 25,000 shares of Insmed stock in a transaction on Monday, November 18th. The shares were sold at an average price of $20.80, for a total transaction of $520,000.00. Company insiders own 4.95% of the company’s stock.
A number of large investors have recently modified their holdings of INSM. Point72 Hong Kong Ltd purchased a new position in shares of Insmed in the second quarter worth $34,000. Riverhead Capital Management LLC purchased a new stake in shares of Insmed during the 2nd quarter valued at about $73,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Insmed by 17.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,818 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 854 shares during the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of Insmed by 26.5% in the second quarter. NumerixS Investment Technologies Inc now owns 4,807 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 1,007 shares during the period. Finally, Tyers Asset Management LLC grew its stake in shares of Insmed by 1,002.5% in the second quarter. Tyers Asset Management LLC now owns 7,056 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 6,416 shares during the period.
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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