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

StockNews.com lowered shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a report issued on Monday.

INSM has been the topic of several other reports. Guggenheim raised their price objective on Insmed from $52.00 to $54.00 and gave the company a buy rating in a report on Tuesday, February 27th. Barclays upped their price objective on shares of Insmed from $37.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Truist Financial began coverage on Insmed in a report on Tuesday, April 23rd. They issued a buy rating and a $48.00 price objective on the stock. Wolfe Research began coverage on Insmed in a research report on Thursday, February 15th. They issued an outperform rating and a $42.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an overweight rating and set a $55.00 target price on shares of Insmed in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of Moderate Buy and an average target price of $44.92.

Insmed Stock Up 1.6 %

NASDAQ:INSM opened at $25.95 on Monday. The company has a 50 day moving average price of $26.72 and a 200-day moving average price of $27.07. Insmed has a 1-year low of $18.08 and a 1-year high of $32.00.

Insmed (NASDAQ:INSM) last released its quarterly earnings data 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. During the same period last year, the firm earned ($1.20) earnings per share. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. Analysts forecast that Insmed will post -4.65 EPS for the current fiscal year.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Insmed by 7.7% during the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after acquiring an additional 1,024,956 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Insmed by 47.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company’s stock worth $60,172,000 after purchasing an additional 769,443 shares during the last quarter. RTW Investments LP lifted its position in Insmed by 86.5% in the third quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock valued at $47,094,000 after buying an additional 865,108 shares during the last quarter. Norges Bank purchased a new position in Insmed during the fourth quarter worth about $45,029,000. Finally, Principal Financial Group Inc. increased its position in shares of Insmed by 5.9% during the first quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock valued at $39,048,000 after acquiring an additional 79,717 shares during 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.