Insmed, Inc. (INSM) Rating Reiterated by Cowen and Company

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.

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In related news, Director Donald J. Hayden, Jr. sold 15,000 shares of Insmed stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total value of $487,500.00. Following the sale, the director now owns 71,131 shares of the company’s stock, valued at $2,311,757.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melvin Md Sharoky sold 50,000 shares of Insmed stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total value of $1,368,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,000 shares of company stock worth $3,191,150. Corporate insiders own 5.10% of the company’s stock.

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).

Analyst Recommendations for Insmed (NASDAQ:INSM)

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