Insmed Incorporated (NASDAQ:INSM) Receives Consensus Rating of “Buy” from Analysts

Insmed Incorporated (NASDAQ:INSM) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $44.92.

INSM has been the subject of several recent analyst reports. Guggenheim boosted 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 started coverage on shares of Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 price objective for the company. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 target price on shares of Insmed in a research note on Monday, April 1st. Truist Financial began coverage on shares of Insmed in a research note on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price target for the company. Finally, Barclays increased their price objective on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th.

Insmed Price Performance

NASDAQ:INSM opened at $26.00 on Thursday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -4.87 and a beta of 0.93. The business has a 50 day simple moving average of $26.61 and a 200-day simple moving average of $27.07. Insmed has a 1 year low of $18.08 and a 1 year high of $32.00.

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

Hedge Funds Weigh In On Insmed

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Insmed during the 4th quarter worth $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed in the 1st quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new stake in Insmed in the 1st quarter worth approximately $59,000. China Universal Asset Management Co. Ltd. grew its position 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 purchasing an additional 1,910 shares during the last quarter. Finally, Quarry LP acquired a new position in Insmed during the 4th quarter valued at approximately $116,000.

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.