Insmed Incorporated (NASDAQ:INSM) Receives $44.92 Consensus Price Target from Analysts

Shares of Insmed Incorporated (NASDAQ:INSM) have been given an average rating of “Buy” by the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $44.92.

Several research firms have weighed in on INSM. UBS Group assumed coverage on Insmed in a research report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price for the company. Barclays upped their target price on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wolfe Research began coverage on shares of Insmed in a research report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target for the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Insmed in a research report on Monday, April 1st. Finally, Guggenheim increased their price objective on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently added to or reduced their stakes in INSM. Assetmark Inc. raised its holdings in 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. Arizona State Retirement System grew its position in shares of Insmed by 1.4% in 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 last quarter. Essex Investment Management Co. LLC grew its position in shares of Insmed by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 108,629 shares of the biopharmaceutical company’s stock valued at $2,947,000 after buying an additional 622 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Insmed by 2.5% during 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Insmed in the fourth quarter valued at $25,000.

Insmed Stock Performance

Shares of INSM stock opened at $25.55 on Thursday. Insmed has a one year low of $18.08 and a one year high of $32.00. The firm’s 50 day moving average price is $26.77 and its 200-day moving average price is $27.05. The firm has a market cap of $3.80 billion, a P/E ratio of -4.78 and a beta of 0.93.

Insmed (NASDAQ:INSM) last released its quarterly earnings results 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 firm had revenue of $83.70 million during the quarter, compared to analyst estimates of $82.15 million. The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.20) EPS. As a group, research analysts predict that Insmed will post -4.65 EPS for the current fiscal year.

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.