Insmed (NASDAQ:INSM) Shares Gap Up to $24.11

Shares of Insmed Incorporated (NASDAQ:INSM - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INSM shares. Barclays increased their price target on Insmed from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Wells Fargo & Company restated an "overweight" rating and set a $55.00 price objective on shares of Insmed in a research report on Monday, April 1st. Guggenheim lifted their target price on shares of Insmed from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. StockNews.com raised shares of Insmed from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. Finally, 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 target on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.92.

Insmed Stock Performance

The stock has a market cap of $3.75 billion, a PE ratio of -4.82 and a beta of 0.92. The company's 50-day moving average price is $27.30 and its 200 day moving average price is $27.04.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.20) earnings per share. As a group, equities research analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current fiscal year.

Institutional Trading of Insmed

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Insmed during the 4th quarter worth about $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Insmed by 106.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company's stock valued at $93,000 after buying an additional 1,910 shares during the last quarter. Quarry LP purchased a new position in shares of Insmed during the fourth quarter worth about $116,000. Assetmark Inc. increased its position 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 in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Insmed in the 3rd quarter valued at about $208,000.

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.