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

Shares of Insmed Incorporated (NASDAQ:INSM) gapped up before the market opened 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays boosted their price objective on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Truist Financial assumed coverage on Insmed in a report on Tuesday. They set a “buy” rating and a $48.00 price objective for the company. Wolfe Research assumed coverage on 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 reissued an “overweight” rating and set a $55.00 price objective on shares of Insmed in a report on Monday, April 1st. Finally, StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.92.

Insmed Stock Up 2.1 %

The company has a 50-day simple moving average of $27.24 and a two-hundred day simple moving average of $27.04. The stock has a market cap of $3.83 billion, a P/E ratio of -4.83 and a beta of 0.92.

Insmed (NASDAQ:INSM) last announced 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 business had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $82.15 million. During the same period in the prior year, the firm earned ($1.20) EPS. The business’s revenue was up 41.1% on a year-over-year basis. As a group, sell-side analysts forecast that Insmed Incorporated will post -4.65 earnings per share for the current fiscal year.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC bought a new stake in Insmed in the third quarter valued at approximately $1,820,000. Graham Capital Management L.P. raised its holdings in shares of Insmed by 352.5% during the third quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock valued at $1,101,000 after acquiring an additional 33,969 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Insmed by 7.7% during the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after acquiring an additional 1,024,956 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Insmed by 898.8% during the third quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock valued at $7,449,000 after acquiring an additional 265,457 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Insmed by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,099,807 shares of the biopharmaceutical company’s stock valued at $27,770,000 after acquiring an additional 88,589 shares in the last quarter.

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.