Insmed (NASDAQ:INSM) Now Covered by Truist Financial

Truist Financial assumed coverage on shares of Insmed (NASDAQ:INSM) in a report released on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $48.00 price target on the biopharmaceutical company’s stock. Truist Financial’s target price would suggest a potential upside of 85.97% from the company’s previous close.

A number of other research firms also recently commented on INSM. Guggenheim lifted their price objective on shares of Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. UBS Group began coverage on Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price on the stock. Wolfe Research began coverage on shares of Insmed in a research note on Thursday, February 15th. They set an “outperform” rating and a $42.00 price objective on the stock. Barclays lifted 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. Finally, StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Up 2.1 %

Shares of NASDAQ:INSM opened at $25.81 on Tuesday. Insmed has a 52-week low of $18.08 and a 52-week high of $32.00. The company has a 50 day moving average of $27.24 and a two-hundred day moving average of $27.04. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -4.83 and a beta of 0.92.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share 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 analyst estimates of $82.15 million. During the same period in the prior year, the firm earned ($1.20) earnings per share. The company’s quarterly revenue was up 41.1% on a year-over-year basis. On average, equities analysts anticipate that Insmed will post -4.65 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Insmed by 325.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after buying an additional 927,040 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in Insmed in the 1st quarter worth approximately $678,000. Diversified Trust Co lifted its holdings in Insmed by 5.2% in the 1st quarter. Diversified Trust Co now owns 21,684 shares of the biopharmaceutical company’s stock worth $588,000 after purchasing an additional 1,078 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Insmed by 6.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 146,912 shares of the biopharmaceutical company’s stock worth $3,986,000 after purchasing an additional 8,877 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Insmed in the 4th quarter worth approximately $341,000.

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.