Insmed (INSM) Price Target Lowered to $22.00 at Citigroup

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Insmed (NASDAQ:INSM) had its price target decreased by equities research analysts at Citigroup from $29.00 to $22.00 in a research note issued to investors on Tuesday. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s price target suggests a potential upside of 29.07% from the stock’s current price.

A number of other brokerages have also recently weighed in on INSM. Morgan Stanley lifted their price objective on Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. JMP Securities cut Insmed from an “outperform” rating to a “market perform” rating in a research note on Monday, August 6th. BidaskClub cut Insmed from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, ValuEngine cut Insmed from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.57.

NASDAQ:INSM opened at $17.05 on Tuesday. Insmed has a 52 week low of $13.85 and a 52 week high of $33.94. The company has a current ratio of 10.06, a quick ratio of 10.06 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.90 and a beta of 1.74.

Insmed (NASDAQ:INSM) last posted its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.06) by ($0.08). On average, research analysts predict that Insmed will post -4.11 EPS for the current fiscal year.

In other Insmed news, insider Roger Adsett purchased 3,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $15.97 per share, with a total value of $47,910.00. Following the acquisition, the insider now directly owns 18,594 shares of the company’s stock, valued at $296,946.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steinar J. Engelsen purchased 16,085 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average cost of $15.79 per share, with a total value of $253,982.15. The disclosure for this purchase can be found here. Insiders bought 54,785 shares of company stock valued at $871,726 over the last ninety days. Insiders own 3.88% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. NumerixS Investment Technologies Inc purchased a new stake in Insmed during the 2nd quarter worth about $122,000. Pacer Advisors Inc. purchased a new stake in Insmed during the 3rd quarter worth about $155,000. Dynamic Technology Lab Private Ltd purchased a new stake in Insmed during the 2nd quarter worth about $200,000. Cubist Systematic Strategies LLC purchased a new stake in Insmed during the 2nd quarter worth about $200,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Insmed during the 3rd quarter worth about $452,000.

About Insmed

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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