Insmed (NASDAQ:INSM) Coverage Initiated at Truist Financial

Truist Financial initiated coverage on shares of Insmed (NASDAQ:INSM) in a note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $48.00 price target on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 99.09% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Barclays lifted their price objective on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price objective on shares of Insmed in a report on Monday, April 1st. Wolfe Research began coverage on Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price on the stock. Finally, Guggenheim boosted their price target on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $44.92.

Insmed Stock Down 0.9 %

Shares of NASDAQ:INSM opened at $24.11 on Tuesday. Insmed has a 52-week low of $17.41 and a 52-week high of $32.00. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -4.51 and a beta of 0.92. The business has a 50-day moving average price of $27.30 and a 200-day moving average price of $27.04.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company had revenue of $83.70 million for the quarter, compared to the consensus estimate of $82.15 million. During the same quarter in the previous year, the business posted ($1.20) EPS. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, equities analysts anticipate that Insmed will post -4.65 EPS for the current fiscal year.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently modified their holdings of INSM. International Assets Investment Management LLC purchased a new position in Insmed in the 4th quarter valued at about $25,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Insmed by 106.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 1,910 shares during the last quarter. Quarry LP purchased a new position in shares of Insmed in the fourth quarter valued at approximately $116,000. Assetmark Inc. boosted its stake in shares of Insmed by 10.7% in the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 463 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Insmed in the fourth quarter worth approximately $246,000.

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.