Insmed (INSM) Coverage Initiated at Morgan Stanley

Morgan Stanley assumed coverage on shares of Insmed (NASDAQ:INSM) in a research note published on Wednesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $39.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Insmed from a buy rating to a hold rating in a report on Thursday, January 18th. BidaskClub upgraded Insmed from a sell rating to a hold rating in a report on Friday, December 22nd. Finally, Credit Suisse Group started coverage on Insmed in a report on Wednesday, January 17th. They issued a neutral rating and a $31.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $36.90.

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INSM stock opened at $21.69 on Wednesday. The company has a quick ratio of 8.72, a current ratio of 8.72 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1,805.89, a price-to-earnings ratio of -7.58 and a beta of 1.13. Insmed has a fifty-two week low of $11.49 and a fifty-two week high of $33.94.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Friday, February 23rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). equities research analysts forecast that Insmed will post -3.76 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Insmed by 137.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 2,698 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Insmed during the 4th quarter worth $188,000. Prudential Financial Inc. purchased a new position in shares of Insmed during the 3rd quarter worth $232,000. Jefferies Group LLC purchased a new position in shares of Insmed during the 4th quarter worth $245,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Insmed during the 3rd quarter worth $256,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

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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).

Analyst Recommendations for Insmed (NASDAQ:INSM)

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