BidaskClub Downgrades Insmed (INSM) to Sell

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BidaskClub downgraded shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a research note published on Thursday morning.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Insmed from a sell rating to a hold rating in a research note on Thursday. ValuEngine raised shares of Insmed from a buy rating to a strong-buy rating in a research note on Wednesday, May 9th. Credit Suisse Group raised shares of Insmed from a neutral rating to an outperform rating and raised their price objective for the stock from $27.00 to $31.00 in a research note on Monday, April 23rd. Morgan Stanley raised their price objective on shares of Insmed from $37.00 to $39.00 and gave the stock an overweight rating in a research note on Monday, August 6th. Finally, HC Wainwright reaffirmed a buy rating and issued a $43.00 target price on shares of Insmed in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $38.80.

Shares of Insmed opened at $22.22 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.83, a current ratio of 14.14 and a quick ratio of 14.14. Insmed has a 1-year low of $11.49 and a 1-year high of $33.94. The company has a market cap of $1.68 billion, a PE ratio of -7.69 and a beta of 1.07.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.08) by $0.08. sell-side analysts expect that Insmed will post -4.06 earnings per share for the current fiscal year.

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 25,991 shares of Insmed stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $28.24, for a total value of $733,985.84. Following the completion of the sale, the insider now directly owns 22,253 shares of the company’s stock, valued at approximately $628,424.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.88% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in INSM. TIAA CREF Investment Management LLC grew its stake in Insmed by 5.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 244,624 shares of the biopharmaceutical company’s stock worth $7,627,000 after acquiring an additional 13,438 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in Insmed in the 4th quarter worth approximately $258,000. Wells Fargo & Company MN grew its stake in Insmed by 33.4% in the 1st quarter. Wells Fargo & Company MN now owns 58,400 shares of the biopharmaceutical company’s stock worth $1,315,000 after acquiring an additional 14,637 shares during the period. Alps Advisors Inc. grew its stake in Insmed by 21.1% in the 1st quarter. Alps Advisors Inc. now owns 102,752 shares of the biopharmaceutical company’s stock worth $2,314,000 after acquiring an additional 17,881 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Insmed in the 1st quarter worth approximately $116,000.

Insmed Company Profile

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

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