Insmed (NASDAQ:INSM) Rating Reiterated by Truist Financial

Truist Financial reaffirmed their buy rating on shares of Insmed (NASDAQ:INSM - Free Report) in a research report released on Thursday, Benzinga reports. Truist Financial currently has a $48.00 price target on the biopharmaceutical company's stock.

A number of other brokerages have also weighed in on INSM. Morgan Stanley lifted their price objective on Insmed from $40.00 to $43.00 and gave the company an overweight rating in a report on Friday, May 10th. UBS Group began coverage on shares of Insmed in a report on Tuesday, February 27th. They issued a buy rating and a $46.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Insmed from $40.00 to $49.00 and gave the stock a buy rating in a report on Wednesday. Guggenheim boosted their price target on Insmed from $52.00 to $54.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Finally, HC Wainwright reaffirmed a buy rating and set a $52.00 price objective on shares of Insmed in a report on Tuesday. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Insmed presently has an average rating of Moderate Buy and a consensus target price of $44.71.

Insmed Price Performance

Shares of NASDAQ:INSM traded up $0.17 during trading on Thursday, reaching $25.10. The company had a trading volume of 1,032,763 shares, compared to its average volume of 1,751,020. Insmed has a fifty-two week low of $18.08 and a fifty-two week high of $32.00. The stock's fifty day moving average price is $26.39 and its 200 day moving average price is $27.10. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -4.80 and a beta of 0.93.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same period in the prior year, the firm posted ($1.17) earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Insmed will post -4.58 EPS for the current fiscal year.

Insider Activity at Insmed

In other news, CEO William Lewis sold 22,198 shares of the firm's stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now owns 384,125 shares in the company, valued at $9,802,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William Lewis sold 22,198 shares of the company's stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the sale, the chief executive officer now directly owns 384,125 shares in the company, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Drayton Wise sold 5,088 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the sale, the insider now directly owns 123,259 shares of the company's stock, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,231 shares of company stock valued at $1,177,186. Company insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently bought and sold shares of INSM. Assetmark Inc. increased its holdings in Insmed by 10.7% in the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company's stock valued at $121,000 after purchasing an additional 463 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Insmed by 1.4% during the 3rd 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. State Board of Administration of Florida Retirement System lifted its position in Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company's stock worth $1,037,000 after acquiring an additional 610 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in Insmed by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company's stock worth $2,947,000 after acquiring an additional 622 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Insmed by 2.5% in the 4th quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company's stock worth $886,000 after acquiring an additional 700 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.