Insmed (NASDAQ:INSM) Shares Gap Up to $26.00

Insmed Incorporated (NASDAQ:INSM)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $26.00, but opened at $28.31. Insmed shares last traded at $26.64, with a volume of 139,619 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INSM. Guggenheim increased their price objective on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. UBS Group assumed coverage on shares of Insmed in a report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price target on the stock. Barclays upped their price objective on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 target price on shares of Insmed in a research note on Monday, April 1st. Finally, StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Up 1.7 %

The company has a fifty day simple moving average of $26.61 and a 200 day simple moving average of $27.07. The firm has a market capitalization of $3.93 billion, a P/E ratio of -4.87 and a beta of 0.93.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $82.15 million. During the same period in the previous year, the company earned ($1.20) EPS. The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. As a group, equities analysts expect that Insmed Incorporated will post -4.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its position in shares of Insmed by 10.7% during the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 463 shares during the period. Arizona State Retirement System boosted its holdings in Insmed by 1.4% in the third quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock worth $981,000 after acquiring an additional 526 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake 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 valued at $1,037,000 after purchasing an additional 610 shares in the last quarter. Essex Investment Management Co. LLC raised its stake 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 last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Insmed by 2.5% during the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock worth $886,000 after purchasing an additional 700 shares during the period.

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.