Truist Financial Initiates Coverage on Insmed (NASDAQ:INSM)

Truist Financial assumed coverage on shares of Insmed (NASDAQ:INSM) in a report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $48.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Guggenheim upped their price target on shares of Insmed from $52.00 to $54.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Wells Fargo & Company restated an overweight rating and set a $55.00 price objective on shares of Insmed in a research report on Monday, April 1st. UBS Group began coverage on shares of Insmed in a research note on Tuesday, February 27th. They set a buy rating and a $46.00 target price for the company. Barclays lifted 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. Finally, Wolfe Research started coverage on Insmed in a research report on Thursday, February 15th. They issued an outperform rating and a $42.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Insmed presently has an average rating of Moderate Buy and an average target price of $44.92.

Insmed Trading Up 4.8 %

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

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The business had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. During the same period in the prior year, the company posted ($1.20) EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, sell-side analysts forecast that Insmed will post -4.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently made changes to their positions in INSM. International Assets Investment Management LLC purchased a new stake in shares of Insmed in the 4th quarter valued at about $25,000. China Universal Asset Management Co. Ltd. lifted its stake in Insmed by 106.8% in 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 buying an additional 1,910 shares during the last quarter. Quarry LP acquired a new stake in shares of Insmed in the fourth quarter valued at approximately $116,000. Assetmark Inc. grew its position in shares of Insmed by 10.7% during 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, Mackenzie Financial Corp acquired a new position in shares of Insmed in the 3rd quarter valued at $208,000.

About Insmed

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.