Insmed (NASDAQ:INSM) Sees Unusually-High Trading Volume

Insmed Incorporated (NASDAQ:INSM - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,482,986 shares were traded during mid-day trading, a decline of 15% from the previous session's volume of 1,739,341 shares.The stock last traded at $24.20 and had previously closed at $24.32.

Analyst Upgrades and Downgrades

INSM has been the subject of several analyst reports. StockNews.com raised Insmed from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. UBS Group initiated coverage on Insmed in a research note on Tuesday, February 27th. They set a "buy" rating and a $46.00 price objective for the company. Barclays upped their price objective on Insmed from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Wolfe Research initiated coverage on Insmed in a research note on Thursday, February 15th. They set an "outperform" rating and a $42.00 target price for the company. Finally, Guggenheim increased their target price on Insmed from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.64.

Insmed Price Performance

The firm has a 50-day simple moving average of $27.30 and a 200 day simple moving average of $27.04. The company has a market capitalization of $3.58 billion, a PE ratio of -4.51 and a beta of 0.92.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS 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 the consensus estimate of $82.15 million. During the same quarter in the previous year, the business earned ($1.20) earnings per share. Insmed's revenue for the quarter was up 41.1% compared to the same quarter last year. Equities research analysts expect that Insmed Incorporated will post -4.65 EPS for the current fiscal year.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently modified their holdings of INSM. Raymond James & Associates increased its position in shares of Insmed by 39.7% during the third quarter. Raymond James & Associates now owns 44,214 shares of the biopharmaceutical company's stock worth $1,116,000 after acquiring an additional 12,573 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Insmed in the third quarter worth about $1,044,000. Beacon Financial Advisory LLC acquired a new position in Insmed in the third quarter worth about $254,000. Mackenzie Financial Corp acquired a new position in Insmed in the third quarter worth about $208,000. Finally, Strs Ohio grew its stake in Insmed by 690.0% in the third quarter. Strs Ohio now owns 23,700 shares of the biopharmaceutical company's stock worth $598,000 after purchasing an additional 20,700 shares in the last quarter.

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.