Insmed (NASDAQ:INSM) Sees Unusually-High Trading Volume

Shares of Insmed Incorporated (NASDAQ:INSM) saw an uptick in trading volume on Monday . 1,482,986 shares changed hands during mid-day 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.

Analysts Set New Price Targets

A number of research firms have weighed in on INSM. StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Wolfe Research began coverage on Insmed in a report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 target price for the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price target on shares of Insmed in a report on Monday, April 1st. Guggenheim lifted 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. Finally, UBS Group began coverage on shares of Insmed in a report on Tuesday, February 27th. They set 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’s stock. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $44.92.

Insmed Stock Performance

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

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (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 business posted ($1.20) earnings per share. Insmed’s quarterly revenue was up 41.1% on a year-over-year basis. As a group, sell-side analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in the business. Walleye Capital LLC purchased a new stake in Insmed during the 3rd quarter valued at approximately $1,820,000. Graham Capital Management L.P. boosted its holdings in shares of Insmed by 352.5% during the 3rd quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 33,969 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Trexquant Investment LP grew its position in shares of Insmed by 898.8% during the third quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock valued at $7,449,000 after purchasing an additional 265,457 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Insmed by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,099,807 shares of the biopharmaceutical company’s stock worth $27,770,000 after purchasing an additional 88,589 shares during the last quarter.

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.