Insmed (NASDAQ:INSM) Shares Gap Up to $24.11

Insmed Incorporated (NASDAQ:INSM) gapped up prior to trading on Tuesday . The stock had previously closed at $24.11, but opened at $25.03. Insmed shares last traded at $25.50, with a volume of 284,662 shares trading hands.

Analysts Set New Price Targets

INSM has been the subject of several research reports. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price target on shares of Insmed in a report on Monday, April 1st. 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 for the company. Truist Financial started coverage on Insmed in a research note on Tuesday. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Barclays increased their price target on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.92.

Insmed Stock Up 5.6 %

The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -4.82 and a beta of 0.92. The business’s fifty day moving average is $27.30 and its 200 day moving average is $27.04.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (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 analyst estimates of $82.15 million. During the same quarter in the previous year, the company posted ($1.20) earnings per share. The business’s revenue was up 41.1% compared to the same quarter last year. Equities research analysts expect that Insmed Incorporated will post -4.65 EPS for the current year.

Institutional Investors Weigh In On Insmed

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Insmed during the fourth quarter worth $25,000. China Universal Asset Management Co. Ltd. increased its stake 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 during the last quarter. Quarry LP bought a new stake in shares of Insmed in the 4th quarter valued at about $116,000. Assetmark Inc. lifted its stake in Insmed by 10.7% in the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 463 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Insmed during the third 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.