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

Insmed (NASDAQ:INSM) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other equities analysts also recently issued research reports about the stock. Barclays increased their price target on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price on shares of Insmed in a report on Monday, April 1st. Truist Financial initiated coverage on shares of Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price target for the company. UBS Group initiated coverage on shares of Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 price target for the company. Finally, Wolfe Research initiated coverage on shares of Insmed in a research report on Thursday, February 15th. They set an “outperform” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.92.

Insmed Price Performance

NASDAQ:INSM traded up $0.40 during trading hours on Monday, reaching $25.95. 1,394,855 shares of the company were exchanged, compared to its average volume of 1,747,257. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -4.86 and a beta of 0.93. Insmed has a 52-week low of $18.08 and a 52-week high of $32.00. The stock has a 50 day simple moving average of $26.72 and a 200 day simple moving average of $27.07.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share 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. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.20) earnings per share. On average, analysts predict that Insmed will post -4.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSM. Raymond James & Associates boosted its position in Insmed by 39.7% in the 3rd quarter. Raymond James & Associates now owns 44,214 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 12,573 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Insmed in the 3rd quarter valued at about $1,044,000. Mackenzie Financial Corp acquired a new stake in shares of Insmed in the 3rd quarter valued at about $208,000. Strs Ohio raised its stake in shares of Insmed by 690.0% in the 3rd quarter. Strs Ohio now owns 23,700 shares of the biopharmaceutical company’s stock valued at $598,000 after purchasing an additional 20,700 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Insmed by 59.0% in the 3rd quarter. TD Asset Management Inc now owns 523,132 shares of the biopharmaceutical company’s stock valued at $13,209,000 after purchasing an additional 194,145 shares in 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.