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 traded.

Wall Street Analyst Weigh In

A number of research firms have commented on INSM. Wolfe Research began coverage on shares of Insmed in a research report on Thursday, February 15th. They set an “outperform” rating and a $42.00 price objective for the company. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Truist Financial began coverage on shares of Insmed in a research report on Tuesday. They issued a “buy” rating and a $48.00 target price for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. Finally, UBS Group began coverage on shares of Insmed in a research report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Up 2.1 %

The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -4.83 and a beta of 0.92. The company has a 50 day simple moving average of $27.24 and a 200 day simple moving average of $27.04.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS 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. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period last year, the firm posted ($1.20) earnings per share. As a group, analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Assetmark Inc. raised its stake in 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 in the last quarter. Arizona State Retirement System increased its stake in shares of Insmed by 1.4% in the third quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 526 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Insmed by 2.5% in the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after buying an additional 700 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Insmed in the fourth quarter valued at approximately $25,000. Finally, Diversified Trust Co increased its stake in shares of Insmed by 4.2% in the third quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock valued at $496,000 after buying an additional 792 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.