Shares of Insmed Incorporated (NASDAQ:INSM) gapped down before the market opened on Wednesday . The stock had previously closed at $25.87, but opened at $26.41. Insmed shares last traded at $25.98, with a volume of 3601481 shares trading hands.
INSM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, January 22nd. ValuEngine upgraded Insmed from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. JMP Securities upgraded Insmed from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, February 15th. BidaskClub downgraded Insmed from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Canaccord Genuity set a $44.00 price target on Insmed and gave the stock a “buy” rating in a research note on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Insmed currently has a consensus rating of “Buy” and a consensus target price of $37.88.
The company has a market capitalization of $2.05 billion, a PE ratio of -6.24 and a beta of 2.98. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48.
In related news, Director Donald J. Hayden, Jr. sold 6,286 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $32.99, for a total value of $207,375.14. Following the transaction, the director now directly owns 68,483 shares of the company’s stock, valued at approximately $2,259,254.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald J. Hayden, Jr. sold 14,900 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $28.08, for a total value of $418,392.00. Following the completion of the transaction, the director now directly owns 77,097 shares in the company, valued at $2,164,883.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,686 shares of company stock worth $790,767. Company insiders own 4.95% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. bought a new position in Insmed in the 1st quarter worth $45,000. Strs Ohio bought a new stake in Insmed during the first quarter valued at about $75,000. NumerixS Investment Technologies Inc bought a new stake in Insmed during the first quarter valued at about $106,000. Amundi Pioneer Asset Management Inc. bought a new stake in Insmed during the fourth quarter valued at about $101,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Insmed during the first quarter valued at about $254,000.
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Insmed Company Profile (NASDAQ:INSM)
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.
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