Insmed (NASDAQ:INSM) Sees Large Volume Increase

Insmed Incorporated (NASDAQ:INSM) saw unusually-high trading volume on Monday . Approximately 1,482,986 shares changed hands during trading, a decline of 15% from the previous session’s volume of 1,739,341 shares.The stock last traded at $24.20 and had previously closed at $24.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INSM shares. StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Truist Financial assumed coverage on Insmed in a research report on Tuesday. They set a “buy” rating and a $48.00 price target for the company. UBS Group started coverage on shares of Insmed in a report on Tuesday, February 27th. They set a “buy” rating and a $46.00 target price for the company. Barclays upped their price target on shares of Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 price objective on shares of Insmed in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.92.

Insmed Stock Up 4.8 %

The company has a 50 day moving average of $27.27 and a two-hundred day moving average of $27.05.

Insmed (NASDAQ:INSM) last announced 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 analyst estimates of $82.15 million. Insmed’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period last year, the firm posted ($1.20) earnings per share. As a group, research analysts forecast that Insmed Incorporated will post -4.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Insmed during the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. raised its stake in Insmed by 106.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 1,910 shares during the last quarter. Quarry LP purchased a new position in Insmed in the 4th quarter valued at $116,000. Assetmark Inc. boosted its stake in Insmed by 10.7% during 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 during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Insmed during the 3rd quarter worth $208,000.

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.