Insmed (NASDAQ:INSM) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Insmed (NASDAQ:INSM) from a hold rating to a sell rating in a research report report published on Friday morning.

A number of other brokerages also recently issued reports on INSM. Morgan Stanley increased their price objective on Insmed from $60.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, July 12th. Guggenheim increased their price objective on Insmed from $70.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Truist Financial boosted their price target on shares of Insmed from $68.00 to $88.00 and gave the stock a buy rating in a research note on Monday, July 1st. Bank of America reaffirmed a buy rating and set a $83.00 price objective on shares of Insmed in a research note on Friday, July 5th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Insmed in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $79.38.

Insmed Stock Up 3.0 %

INSM traded up $2.17 on Friday, hitting $73.98. The company’s stock had a trading volume of 1,535,316 shares, compared to its average volume of 2,485,537. Insmed has a 12 month low of $21.21 and a 12 month high of $78.87. The firm has a market cap of $10.99 billion, a P/E ratio of -14.15 and a beta of 1.16. The company’s 50 day simple moving average is $68.82 and its 200-day simple moving average is $42.24.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.78) earnings per share. Equities analysts predict that Insmed will post -4.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at $9,802,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sara Bonstein sold 11,088 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.32, for a total transaction of $280,748.16. Following the sale, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $2,974,618.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now directly owns 384,125 shares of the company’s stock, valued at $9,802,870. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,842 shares of company stock valued at $13,762,062. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Principal Financial Group Inc. grew its position in Insmed by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after purchasing an additional 218,480 shares during the period. Capital International Investors bought a new position in shares of Insmed during the 1st quarter valued at $43,973,000. Norges Bank bought a new stake in shares of Insmed in the fourth quarter worth $45,029,000. Finally, Assenagon Asset Management S.A. increased its position in Insmed by 325.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after acquiring an additional 927,040 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.