Insmed (NASDAQ:INSM) Shares Gap Up to $24.11

Insmed Incorporated (NASDAQ:INSM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $24.11, but opened at $25.03. Insmed shares last traded at $25.50, with a volume of 284,662 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price on shares of Insmed in a report on Monday, April 1st. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Truist Financial began coverage on Insmed in a research note on Tuesday. They issued a “buy” rating and a $48.00 target price on the stock. Barclays lifted their price target on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Guggenheim increased their price objective on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $44.92.

Insmed Price Performance

The company has a market cap of $3.78 billion, a P/E ratio of -4.82 and a beta of 0.92. The stock’s 50-day moving average is $27.30 and its two-hundred day moving average is $27.04.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $82.15 million. Insmed’s revenue was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.20) EPS. On average, analysts predict that Insmed Incorporated will post -4.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of Insmed by 10.7% in the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 463 shares in the last quarter. Arizona State Retirement System grew its holdings in Insmed by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 526 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Insmed by 2.5% in the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock worth $886,000 after buying an additional 700 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Insmed during the fourth quarter valued at $25,000. Finally, Diversified Trust Co lifted its stake in Insmed by 4.2% in the 3rd quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock worth $496,000 after purchasing an additional 792 shares in 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.