Insmed Incorporated (NASDAQ:INSM) Given Average Recommendation of “Buy” by Brokerages

Shares of Insmed Incorporated (NASDAQ:INSM) have earned a consensus rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat.com reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $44.92.

A number of equities research analysts have commented on the stock. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Barclays lifted their price target on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. UBS Group assumed coverage on Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 price objective for the company. Truist Financial initiated coverage on Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 target price on the stock. Finally, Guggenheim upped their price target on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Insmed Trading Up 3.5 %

Shares of NASDAQ INSM opened at $25.59 on Thursday. The stock has a market cap of $3.80 billion, a P/E ratio of -4.79 and a beta of 0.92. The business’s fifty day simple moving average is $26.84 and its 200-day simple moving average is $27.05. Insmed has a 12-month low of $18.08 and a 12-month high of $32.00.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Insmed in the 4th quarter valued at approximately $45,029,000. Vanguard Group Inc. lifted its stake in shares of Insmed by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after acquiring an additional 1,024,956 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Insmed by 325.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after acquiring an additional 927,040 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Insmed during the fourth quarter worth about $27,891,000. Finally, RTW Investments LP increased its stake in shares of Insmed by 86.5% during the third quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock worth $47,094,000 after acquiring an additional 865,108 shares during the period.

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.