Insmed (NASDAQ:INSM) Shares Gap Up to $26.00

Shares of Insmed Incorporated (NASDAQ:INSM) gapped up before the market opened on Thursday . The stock had previously closed at $26.00, but opened at $28.31. Insmed shares last traded at $26.64, with a volume of 139,619 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Guggenheim upped their target price on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Wolfe Research began coverage on Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price for the company. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 price objective on shares of Insmed in a research note on Monday, April 1st. Finally, Truist Financial assumed coverage on shares of Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.92.

Insmed Price Performance

The firm’s 50-day simple moving average is $26.61 and its 200 day simple moving average is $27.07. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -4.87 and a beta of 0.93.

Insmed (NASDAQ:INSM) last posted its quarterly 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 firm had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.15 million. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.20) earnings per share. As a group, research analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current year.

Institutional Investors Weigh In On Insmed

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of Insmed during the fourth quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new position in Insmed in the first quarter valued at approximately $34,000. Headlands Technologies LLC bought a new position in Insmed during the first quarter worth $59,000. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 purchasing an additional 1,910 shares in the last quarter. Finally, Quarry LP acquired a new stake in Insmed in the fourth quarter valued at approximately $116,000.

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.