Insmed (NASDAQ:INSM) PT Raised to $43.00

Insmed (NASDAQ:INSM) had its price objective boosted by equities research analysts at Morgan Stanley from $40.00 to $43.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective indicates a potential upside of 67.32% from the stock’s current price.

A number of other research firms have also weighed in on INSM. Guggenheim upped their target price 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. Wolfe Research began coverage on shares of Insmed in a research note on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price for the company. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 price objective on shares of Insmed in a report on Monday, April 1st. Finally, Truist Financial initiated coverage on Insmed in a research note on Tuesday, April 23rd. They set a “buy” rating and a $48.00 target price for the company. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.08.

Insmed Stock Performance

Shares of Insmed stock traded down $0.68 during trading hours on Friday, hitting $25.70. The company’s stock had a trading volume of 1,379,983 shares, compared to its average volume of 1,745,563. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -4.76 and a beta of 0.93. Insmed has a twelve month low of $18.08 and a twelve month high of $32.00. The firm has a fifty day moving average of $26.59 and a 200-day moving average of $27.07.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.17) earnings per share. On average, sell-side analysts expect that Insmed will post -4.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Insmed

A number of large investors have recently bought and sold shares of INSM. State Board of Administration of Florida Retirement System increased its position in Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 610 shares in the last quarter. ProShare Advisors LLC boosted its position in Insmed by 10.0% during the first quarter. ProShare Advisors LLC now owns 35,241 shares of the biopharmaceutical company’s stock worth $956,000 after acquiring an additional 3,218 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 21,963 shares during the last quarter. Headlands Technologies LLC purchased a new position in Insmed during the first quarter worth about $59,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Insmed during the first quarter worth about $4,515,000.

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.