abrdn plc Buys New Shares in Insmed Incorporated (NASDAQ:INSM)

abrdn plc bought a new stake in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,099,000. abrdn plc owned approximately 0.07% of Insmed as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Insmed during the fourth quarter valued at $25,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Insmed by 106.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 1,910 shares in the last quarter. Assetmark Inc. lifted its holdings in Insmed by 10.7% in the 3rd 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. Xponance Inc. purchased a new position in Insmed in the 4th quarter worth approximately $259,000. Finally, Mackenzie Financial Corp purchased a new position in Insmed in the 3rd quarter worth approximately $208,000.

Analysts Set New Price Targets

A number of research analysts recently commented on INSM shares. Guggenheim boosted their price target on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Truist Financial started coverage on Insmed in a report on Tuesday, April 23rd. They issued a “buy” rating and a $48.00 price target on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price target on shares of Insmed in a report on Monday, April 1st. Wolfe Research started coverage on Insmed in a report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target on the stock. Finally, UBS Group started coverage on Insmed in a report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Performance

NASDAQ INSM opened at $24.80 on Monday. The company has a market cap of $3.68 billion, a P/E ratio of -4.64 and a beta of 0.92. The business’s 50 day moving average price is $27.07 and its 200-day moving average price is $27.06. Insmed Incorporated has a fifty-two week low of $18.08 and a fifty-two week high of $32.00.

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

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.