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

Truist Financial began coverage on shares of Insmed (NASDAQ:INSM) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $48.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. StockNews.com raised Insmed from a sell rating to a hold rating in a research note on Wednesday, February 28th. Wolfe Research assumed coverage on Insmed in a research note on Thursday, February 15th. They set an outperform rating and a $42.00 target price on the stock. Barclays increased their target price on Insmed from $37.00 to $40.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. UBS Group assumed coverage on Insmed in a research report on Tuesday, February 27th. They issued a buy rating and a $46.00 price target on the stock. Finally, Guggenheim increased their price target on Insmed from $52.00 to $54.00 and gave the company a buy rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $44.92.

Insmed Stock Down 0.5 %

Shares of Insmed stock opened at $24.80 on Tuesday. Insmed has a 52 week low of $18.08 and a 52 week high of $32.00. The business’s fifty day simple moving average is $27.07 and its 200-day simple moving average is $27.03. The firm has a market cap of $3.68 billion, a PE ratio of -4.64 and a beta of 0.92.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INSM. International Assets Investment Management LLC purchased a new position in Insmed during the 4th quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. grew its stake in Insmed by 106.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,910 shares during the last quarter. Quarry LP purchased a new position in Insmed during the 4th quarter worth approximately $116,000. Assetmark Inc. grew its stake in Insmed by 10.7% during the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 463 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Insmed during the 3rd quarter worth approximately $208,000.

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.