Cowen and Company reaffirmed their buy rating on shares of Insmed, Inc. (NASDAQ:INSM) in a research note published on Friday, November 3rd. Cowen and Company currently has a $54.00 target price on the biopharmaceutical company’s stock.
Several other research firms have also weighed in on INSM. Leerink Swann lifted their price objective on Insmed from $27.00 to $36.00 and gave the company an outperform rating in a research note on Tuesday, September 5th. Stifel Nicolaus reissued a buy rating and set a $43.00 price target (up from $27.00) on shares of Insmed in a research report on Wednesday, September 6th. Evercore ISI upped their target price on Insmed from $28.00 to $40.00 and gave the company an outperform rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered Insmed from a buy rating to a hold rating in a research report on Monday, July 17th. Finally, Robert W. Baird began coverage on Insmed in a research report on Monday, July 10th. They issued an outperform rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $34.50.
Insmed (NASDAQ INSM) traded up $0.44 during trading on Friday, reaching $30.14. The company had a trading volume of 421,298 shares, compared to its average volume of 688,659. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21. Insmed has a 1 year low of $11.49 and a 1 year high of $32.94.
Institutional investors have recently modified their holdings of the business. Prudential Financial Inc. acquired a new stake in Insmed during the 3rd quarter worth about $232,000. BNP Paribas Arbitrage SA lifted its position in Insmed by 666.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 6,520 shares in the last quarter. SG Americas Securities LLC bought a new position in Insmed in the 2nd quarter valued at about $129,000. Campbell & CO Investment Adviser LLC bought a new position in Insmed in the 3rd quarter valued at about $256,000. Finally, Boothbay Fund Management LLC bought a new position in Insmed in the 3rd quarter valued at about $287,000. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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