Truist Financial Begins Coverage on Insmed (NASDAQ:INSM)

Stock analysts at Truist Financial initiated coverage on shares of Insmed (NASDAQ:INSM) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $48.00 price target on the biopharmaceutical company’s stock. Truist Financial’s price target indicates a potential upside of 85.97% from the stock’s current price.

Several other analysts have also recently commented on the stock. UBS Group initiated coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price objective for the company. Guggenheim raised 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. Wolfe Research initiated coverage on shares of Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price objective for the company. StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Barclays raised their price objective on shares of Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.92.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $25.81 on Tuesday. Insmed has a 1-year low of $18.08 and a 1-year high of $32.00. The stock has a market cap of $3.83 billion, a P/E ratio of -4.83 and a beta of 0.92. The firm has a fifty day moving average price of $27.24 and a 200 day moving average price of $27.04.

Insmed (NASDAQ:INSM) last issued its earnings results 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 firm had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.20) earnings per share. Sell-side analysts expect that Insmed will post -4.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Insmed

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Insmed in the fourth quarter valued at $25,000. China Universal Asset Management Co. Ltd. raised its holdings 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 acquiring an additional 1,910 shares in the last quarter. Quarry LP acquired a new stake in Insmed in the fourth quarter valued at $116,000. Assetmark Inc. raised its holdings 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 purchasing an additional 463 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in shares of Insmed during the fourth quarter worth $246,000.

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.