Insmed, Inc. (INSM) Cut to Sell at ValuEngine

Insmed, Inc. (NASDAQ:INSM) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday, August 3rd.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Insmed from $23.00 to $27.00 and gave the company a “buy” rating in a report on Monday, May 1st. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, April 26th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Wednesday, August 2nd. BidaskClub raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of Insmed in a research report on Sunday, June 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.00.

Shares of Insmed (INSM) opened at 11.71 on Thursday. The firm has a 50-day moving average price of $15.73 and a 200-day moving average price of $16.31. Insmed has a 52-week low of $10.21 and a 52-week high of $19.35. The firm’s market cap is $730.43 million.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by $0.09. Analysts predict that Insmed will post ($2.70) EPS for the current fiscal year.

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In other Insmed news, General Counsel Christine A. Pellizzari purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were purchased at an average cost of $15.14 per share, with a total value of $151,400.00. Following the transaction, the general counsel now directly owns 27,300 shares of the company’s stock, valued at approximately $413,322. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.03% of the company’s stock.

A number of large investors have recently modified their holdings of INSM. The Manufacturers Life Insurance Company boosted its stake in shares of Insmed by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,163 shares of the biopharmaceutical company’s stock valued at $844,000 after buying an additional 197 shares during the period. Legal & General Group Plc boosted its stake in shares of Insmed by 2.0% in the second quarter. Legal & General Group Plc now owns 20,173 shares of the biopharmaceutical company’s stock worth $347,000 after buying an additional 390 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Insmed by 2.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 45,122 shares of the biopharmaceutical company’s stock worth $597,000 after buying an additional 995 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Insmed by 11.2% in the second quarter. Parametric Portfolio Associates LLC now owns 16,035 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 1,618 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Insmed by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 213,525 shares of the biopharmaceutical company’s stock worth $3,664,000 after buying an additional 1,857 shares during the last quarter. 92.63% of the stock is currently owned by hedge funds and other institutional investors.

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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