Insmed (NASDAQ:INSM) Receives New Coverage from Analysts at Truist Financial

Truist Financial began coverage on shares of Insmed (NASDAQ:INSM) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $48.00 price objective on the biopharmaceutical company’s stock.

INSM has been the subject of several other research reports. UBS Group initiated coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a buy rating and a $46.00 target price for the company. Barclays upped their target price on shares of 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 set a $55.00 price target on shares of Insmed in a report on Monday, April 1st. Guggenheim increased their price objective on shares of Insmed from $52.00 to $54.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Finally, Wolfe Research started coverage on Insmed in a report on Thursday, February 15th. They set an outperform rating and a $42.00 price objective on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has a consensus rating of Moderate Buy and a consensus target price of $44.92.

Insmed Stock Up 4.8 %

NASDAQ:INSM opened at $25.27 on Tuesday. The company’s 50 day moving average is $27.27 and its 200-day moving average is $27.05. Insmed has a 12 month low of $17.41 and a 12 month high of $32.00. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -4.73 and a beta of 0.92.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $82.15 million. The business’s revenue was up 41.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.20) earnings per share. Research analysts predict that Insmed will post -4.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Insmed

A number of large investors have recently added to or reduced their stakes in the stock. Requisite Capital Management LLC bought a new stake in Insmed during the first quarter worth $678,000. Diversified Trust Co raised its holdings in shares of Insmed by 5.2% in the 1st quarter. Diversified Trust Co now owns 21,684 shares of the biopharmaceutical company’s stock worth $588,000 after purchasing an additional 1,078 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Insmed by 6.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 146,912 shares of the biopharmaceutical company’s stock valued at $3,986,000 after purchasing an additional 8,877 shares during the last quarter. Nomura Holdings Inc. bought a new position in Insmed during the fourth quarter valued at $341,000. Finally, Kingdon Capital Management L.L.C. purchased a new stake in Insmed in the fourth quarter worth $12,551,000.

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.