Insmed (NASDAQ:INSM) PT Raised to $40.00

Insmed (NASDAQ:INSM) had its price target increased by equities researchers at Barclays from $37.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price indicates a potential upside of 46.79% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price on shares of Insmed in a report on Monday, April 1st. Wolfe Research began coverage on Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price on the stock. UBS Group initiated coverage on Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 price target on the stock. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Guggenheim boosted their target price on shares of Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.64.

Insmed Stock Performance

Insmed stock opened at $27.25 on Thursday. Insmed has a fifty-two week low of $16.46 and a fifty-two week high of $32.00. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -5.10 and a beta of 0.92. The stock’s fifty day moving average is $27.67 and its two-hundred day moving average is $27.01.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (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. During the same quarter in the prior year, the company earned ($1.20) EPS. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. As a group, sell-side analysts forecast that Insmed will post -4.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Insmed during the fourth quarter worth $45,029,000. Vanguard Group Inc. increased its position in shares of Insmed by 7.7% during the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after acquiring an additional 1,024,956 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Insmed during the fourth quarter worth $27,891,000. RTW Investments LP lifted its position in Insmed by 86.5% in the 3rd quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock valued at $47,094,000 after acquiring an additional 865,108 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Insmed by 47.7% in 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.

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.