Insmed (NASDAQ:INSM) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Insmed (NASDAQ:INSMGet Rating) in a report issued on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $39.00 price target on the biopharmaceutical company’s stock. Bank of America‘s price objective points to a potential upside of 100.00% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Cowen decreased their target price on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Cowen decreased their target price on shares of Insmed from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. SVB Leerink decreased their target price on shares of Insmed from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. Cantor Fitzgerald cut their price target on shares of Insmed from $53.00 to $49.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Finally, StockNews.com started coverage on shares of Insmed in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.78.

Insmed Price Performance

Shares of INSM stock opened at $19.50 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of -5.36 and a beta of 1.58. The firm has a fifty day simple moving average of $20.51 and a 200-day simple moving average of $21.48. The company has a current ratio of 4.59, a quick ratio of 4.11 and a debt-to-equity ratio of 18.24. Insmed has a twelve month low of $16.41 and a twelve month high of $30.96.

Insiders Place Their Bets

In other Insmed news, Director Melvin Md Sharoky bought 20,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were bought at an average cost of $17.53 per share, with a total value of $350,600.00. Following the completion of the acquisition, the director now owns 281,021 shares of the company’s stock, valued at $4,926,298.13. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.63% of the stock is owned by corporate insiders.

Institutional Trading of Insmed

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its position in shares of Insmed by 4.1% during the third quarter. Raymond James & Associates now owns 21,660 shares of the biopharmaceutical company’s stock worth $467,000 after acquiring an additional 850 shares during the last quarter. Arizona State Retirement System grew its position in shares of Insmed by 3.6% during the first quarter. Arizona State Retirement System now owns 31,998 shares of the biopharmaceutical company’s stock worth $752,000 after acquiring an additional 1,106 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Insmed by 38.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,015 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 1,110 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Insmed during the third quarter worth about $25,000. Finally, Point72 Hong Kong Ltd grew its position in shares of Insmed by 42.3% during the third quarter. Point72 Hong Kong Ltd now owns 3,856 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 1,146 shares during the last quarter.

Insmed Company Profile

(Get Rating)

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.

Recommended Stories

Analyst Recommendations for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.