Truist Financial Initiates Coverage on Insmed (NASDAQ:INSM)

Stock analysts at Truist Financial began coverage on shares of Insmed (NASDAQ:INSM - Get Free Report) in a research report issued to clients and investors 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 points to a potential upside of 89.95% from the company's current price.

Several other brokerages have also recently issued reports on INSM. Wells Fargo & Company restated an "overweight" rating and issued a $55.00 price objective on shares of Insmed in a research note on Monday, April 1st. Guggenheim raised their price objective on Insmed from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Wolfe Research began coverage on 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 Insmed from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. Finally, UBS Group began coverage on Insmed in a research note on Tuesday, February 27th. They issued a "buy" rating and a $46.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Insmed has a consensus rating of "Moderate Buy" and an average target price of $44.92.

Insmed Price Performance

NASDAQ INSM traded up $1.16 during trading on Tuesday, hitting $25.27. The company's stock had a trading volume of 2,130,365 shares, compared to its average volume of 1,767,856. The company has a market cap of $3.75 billion, a PE ratio of -4.73 and a beta of 0.92. The business's 50 day simple moving average is $27.27 and its 200-day simple moving average is $27.05. Insmed has a fifty-two week low of $17.41 and a fifty-two week high of $32.00.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly 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 business had revenue of $83.70 million during the quarter, compared to analyst estimates of $82.15 million. The business's quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the company posted ($1.20) earnings per share. 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 and hedge funds have recently added to or reduced their stakes in INSM. Norges Bank purchased a new stake in Insmed in the fourth quarter valued at $45,029,000. Vanguard Group Inc. increased its holdings in Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company's stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the period. Vestal Point Capital LP purchased a new stake in Insmed during the 4th quarter worth about $27,891,000. RTW Investments LP increased its holdings in Insmed by 86.5% during the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company's stock worth $47,094,000 after purchasing an additional 865,108 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Insmed by 47.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company's stock worth $60,172,000 after purchasing an additional 769,443 shares during the period.

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.