Insmed (NASDAQ:INSM) Research Coverage Started at Truist Financial

Truist Financial assumed coverage on shares of Insmed (NASDAQ:INSM) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $48.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also commented on the company. 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. StockNews.com upgraded Insmed from a sell rating to a hold rating in a research report on Wednesday, February 28th. UBS Group began coverage on Insmed in a research report on Tuesday, February 27th. They issued a buy rating and a $46.00 price target for the company. Guggenheim raised their price objective on shares of Insmed from $52.00 to $54.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company reissued an overweight rating and issued a $55.00 price objective on shares of Insmed in a research note on Monday, April 1st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $44.92.

Insmed Trading Down 0.5 %

Shares of INSM opened at $24.80 on Tuesday. The business’s fifty day simple moving average is $27.07 and its two-hundred day simple moving average is $27.03. Insmed has a 12 month low of $18.08 and a 12 month high of $32.00. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -4.64 and a beta of 0.92.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The company had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.15 million. During the same quarter in the prior year, the company posted ($1.20) earnings per share. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, research analysts forecast that Insmed will post -4.68 EPS for the current year.

Institutional Investors Weigh In On Insmed

A number of large investors have recently made changes to their positions in INSM. Norges Bank purchased a new stake in shares of Insmed during the fourth quarter valued at $45,029,000. Vanguard Group Inc. raised its position in shares of Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after acquiring an additional 1,024,956 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Insmed by 325.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after purchasing an additional 927,040 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Insmed during the 4th quarter worth about $27,891,000. Finally, RTW Investments LP raised its position in shares of Insmed by 86.5% during the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock worth $47,094,000 after purchasing an additional 865,108 shares during the last quarter.

About Insmed

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.