Insmed (NASDAQ:INSM) PT Raised to $43.00 at Morgan Stanley

Insmed (NASDAQ:INSM) had its target price lifted by Morgan Stanley from $40.00 to $43.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 67.32% from the stock’s current price.

INSM has been the topic of a number of other research reports. Truist Financial began coverage on shares of Insmed in a research note on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price objective on the stock. Guggenheim raised their target price on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. UBS Group initiated coverage on shares of Insmed in a research report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price target on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Insmed in a research note on Monday, April 1st. Finally, Barclays increased their target price on shares of Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $45.08.

Insmed Stock Performance

Shares of Insmed stock traded down $0.68 on Friday, reaching $25.70. 1,379,983 shares of the company were exchanged, compared to its average volume of 1,745,563. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -4.76 and a beta of 0.93. Insmed has a 1-year low of $18.08 and a 1-year high of $32.00. The company’s 50-day moving average is $26.59 and its two-hundred day moving average is $27.07.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.16. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same quarter in the previous year, the business posted ($1.17) EPS. Insmed’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed will post -4.65 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently added to or reduced their stakes in INSM. International Assets Investment Management LLC bought a new position in shares of Insmed in the fourth quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new position in Insmed in the 1st quarter worth $34,000. Headlands Technologies LLC acquired a new position in Insmed during the 1st quarter worth $59,000. China Universal Asset Management Co. Ltd. increased its stake 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 worth $93,000 after purchasing an additional 1,910 shares during the period. Finally, Quarry LP acquired a new stake in Insmed in the 4th quarter valued at approximately $116,000.

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.