Insmed (NASDAQ: INSM) Cut to “Sell” at Zacks Investment Research
Insmed (NASDAQ: INSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Thursday, Zacks.com reports.
According to Zacks, “Insmed is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two populations of identified orphan patients: patients with pulmonary infections caused by non-tuberculous mycobacteria (NTM) and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. Insmed is also focusing on the development of INS1009, the company’s inhaled treprostinil prodrug for the treatment of pulmonary arterial hypertension (PAH), a potentially fatal chronic disease characterized by abnormally high blood pressure in the arteries between the heart and lungs.
A number of other stock analysts have also recently published reports on the company. JPMorgan Chase & Co. began covering Insmed in a report on Monday, December 6. They issued an “overweight” rating and a price target of $ 45 for the company. Cantor Fitzgerald began covering Insmed in a research note on Friday, October 8. They issued an “overweight” rating and a target price of $ 60.00 on the stock. Finally, HC Wainwright reissued a “buy” note and issued a target price of $ 52.00 on Insmed shares in a research note on Friday, October 8. A stock research analyst rated the stock with a sell rating, and six gave the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $ 51.29.
The INSM opened at $ 27.22 on Thursday. The stock has a fifty-day simple moving average of $ 29 and a two-hundred-day simple moving average of $ 27.59. The company has a current ratio of 8.52, a rapid ratio of 7.92 and a debt ratio of 1.13. The company has a market cap of $ 3.22 billion, a price-to-earnings ratio of -6.94 and a beta of 2.19. Insmed has a 12 month minimum of $ 22.00 and a 12 month maximum of $ 45.44.
Insmed (NASDAQ: INSM) last released its quarterly earnings data on Thursday, October 28. The biopharmaceutical company reported ($ 0.96) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($ 0.83) by ($ 0.13). The company posted revenue of $ 46.80 million in the quarter, compared to a consensus estimate of $ 49.23 million. Insmed recorded a negative return on equity of 108.34% and a negative net margin of 243.96%. Insmed’s revenue for the quarter was up 6.8% compared to the same quarter last year. In the same quarter of last year, the company posted ($ 0.63) EPS. On average, analysts expect Insmed to post -3.77 EPS for the current year.
Separately, director David R. Brennan bought 10,000 shares of the company in a trade on Monday, November 1. The shares were acquired at an average cost of $ 30.15 per share, for a total value of $ 301,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In addition, insider Orlov S. Nicole Schaeffer sold 61,000 shares of the company in a trade dated Monday, November 1. The stock was sold for an average price of $ 30.28, for a total value of $ 1,847,080.00. Disclosure of this sale can be found here. Insiders have sold 157,614 shares of the company valued at $ 4,549,720 in the past ninety days. 4.63% of the shares are currently held by insiders.
A number of large investors have recently changed their positions in the INSM. Price T Rowe Associates Inc. MD strengthened its position in Insmed by 27.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,372,685 shares of the biopharmaceutical company valued at $ 409,047,000 after purchasing an additional 3,070,140 shares during the last quarter. William Blair Investment Management LLC strengthened its position in Insmed by 33.5% in the second quarter. William Blair Investment Management LLC now owns 5,026,184 shares of the biopharmaceutical company valued at $ 143,045,000 after purchasing an additional 1,261,948 shares during the last quarter. Vanguard Group Inc. strengthened its position in Insmed by 9.9% in the second quarter. Vanguard Group Inc. now owns 10,646,706 shares of the biopharmaceutical company valued at $ 303,004,000 after purchasing an additional 961,181 shares during the last quarter. Polar Capital Holdings Plc strengthened its position in Insmed by 92.0% in the third quarter. Polar Capital Holdings Plc now owns 1,798,209 shares of the biopharmaceutical company valued at $ 49,523,000 after purchasing an additional 861,771 shares in the last quarter. Finally, Point72 Asset Management LP strengthened its position in Insmed by 24.9% in the third quarter. Point72 Asset Management LP now owns 3,591,988 shares of the biopharmaceutical company valued at $ 98,923,000 after purchasing an additional 716,392 shares during the last quarter.
Insmed Company Profile
Insmed Incorporated is a global biopharmaceutical company with 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 regimen Combined antibacterial agent for adult patients with little or no alternative treatment. option.
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