Insmed (NASDAQ:INSM) Research Coverage Started at Truist Financial

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

A number of other brokerages also recently weighed in on INSM. StockNews.com raised shares of Insmed from a sell rating to a hold rating in a research note on Wednesday, February 28th. Barclays upped 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. Wells Fargo & Company reaffirmed an overweight rating and issued a $55.00 target price on shares of Insmed in a research note on Monday, April 1st. Wolfe Research assumed coverage on shares of Insmed in a research note on Thursday, February 15th. They set an outperform rating and a $42.00 price target on the stock. Finally, Guggenheim upped their price objective on shares of Insmed from $52.00 to $54.00 and gave the company a buy rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $44.92.

Insmed Stock Down 3.4 %

Shares of NASDAQ:INSM opened at $24.92 on Tuesday. The company has a 50 day moving average of $27.16 and a 200 day moving average of $27.03. Insmed has a 12 month low of $18.08 and a 12 month high of $32.00.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $82.15 million. Insmed’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.20) EPS. On average, research analysts expect that Insmed will post -4.68 earnings per share 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 INSM. Raymond James & Associates increased its holdings in Insmed by 39.7% during the 3rd quarter. Raymond James & Associates now owns 44,214 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 12,573 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Insmed during the 3rd quarter valued at $1,044,000. Beacon Financial Advisory LLC bought a new position in Insmed in the 3rd quarter worth $254,000. Mackenzie Financial Corp purchased a new position in shares of Insmed during the third quarter valued at about $208,000. Finally, Strs Ohio raised its stake in Insmed by 690.0% in the third quarter. Strs Ohio now owns 23,700 shares of the biopharmaceutical company’s stock worth $598,000 after buying an additional 20,700 shares in the last quarter.

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.