Insmed Incorporated (NASDAQ:INSM) Sees Significant Increase in Short Interest

Insmed Incorporated (NASDAQ:INSM) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 12,440,000 shares, an increase of 11.9% from the August 15th total of 11,120,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 10.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INSM. Evercore ISI raised their price target on shares of Insmed from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. HC Wainwright reaffirmed a “buy” rating and issued a $52.00 price target on shares of Insmed in a research note on Wednesday, September 6th. Guggenheim lifted their price objective on shares of Insmed from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. StockNews.com began coverage on shares of Insmed in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $41.00 price target on shares of Insmed in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.71.

Insmed Stock Performance

INSM opened at $26.35 on Tuesday. The business’s 50-day moving average price is $22.57 and its two-hundred day moving average price is $20.13. Insmed has a 1 year low of $16.04 and a 1 year high of $27.59. The company has a debt-to-equity ratio of 13.13, a current ratio of 5.15 and a quick ratio of 4.77.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.68). The firm had revenue of $77.23 million during the quarter, compared to the consensus estimate of $70.23 million. Insmed had a negative net margin of 258.22% and a negative return on equity of 3,789.32%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.80) EPS. On average, equities research analysts anticipate that Insmed will post -5.08 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

Large investors have recently modified their holdings of the business. Cetera Advisor Networks LLC grew its stake in Insmed by 15.1% in the first quarter. Cetera Advisor Networks LLC now owns 11,405 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 1,500 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Insmed by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 62,884 shares of the biopharmaceutical company’s stock valued at $1,478,000 after acquiring an additional 22,831 shares during the period. Panagora Asset Management Inc. acquired a new stake in Insmed in the 1st quarter valued at about $660,000. Rhumbline Advisers grew its holdings in Insmed by 4.7% during the first quarter. Rhumbline Advisers now owns 127,777 shares of the biopharmaceutical company’s stock worth $3,003,000 after purchasing an additional 5,723 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Insmed by 52.6% during the first quarter. Dimensional Fund Advisors LP now owns 624,309 shares of the biopharmaceutical company’s stock worth $14,670,000 after buying an additional 215,093 shares during the last quarter.

Insmed Company Profile

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.