Raymond James & Associates lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 101.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,757 shares of the biopharmaceutical company’s stock after acquiring an additional 29,150 shares during the period. Raymond James & Associates owned approximately 0.07% of Insmed worth $758,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of INSM. Wells Fargo & Company MN lifted its stake in Insmed by 42.5% in the 3rd quarter. Wells Fargo & Company MN now owns 61,611 shares of the biopharmaceutical company’s stock valued at $1,245,000 after purchasing an additional 18,388 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Insmed by 91.5% during the third quarter. JPMorgan Chase & Co. now owns 506,391 shares of the biopharmaceutical company’s stock worth $10,240,000 after acquiring an additional 241,921 shares during the last quarter. FMR LLC lifted its position in Insmed by 0.5% during the third quarter. FMR LLC now owns 11,556,128 shares of the biopharmaceutical company’s stock worth $233,666,000 after acquiring an additional 62,658 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Insmed during the third quarter worth approximately $4,396,000. Finally, University of Notre Dame DU Lac lifted its position in Insmed by 30.8% during the third quarter. University of Notre Dame DU Lac now owns 132,220 shares of the biopharmaceutical company’s stock worth $2,673,000 after acquiring an additional 31,157 shares during the last quarter.
Several brokerages have issued reports on INSM. Goldman Sachs Group upgraded shares of Insmed from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $29.00 to $35.00 in a research report on Thursday, January 17th. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, January 22nd. Canaccord Genuity began coverage on shares of Insmed in a research report on Wednesday, January 2nd. They set a “buy” rating and a $20.00 price objective for the company. BidaskClub upgraded shares of Insmed from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Finally, HC Wainwright restated a “buy” rating and set a $52.00 price objective (up from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Insmed has an average rating of “Buy” and a consensus target price of $37.00.
Insmed (NASDAQ:INSM) last announced its earnings results on Friday, February 22nd. The biopharmaceutical company reported ($1.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.06). The firm had revenue of $9.84 million for the quarter, compared to the consensus estimate of $5.01 million. As a group, equities analysts predict that Insmed Incorporated will post -3.63 EPS for the current year.
In related news, Director Alfred Altomari sold 5,500 shares of Insmed stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $25.00, for a total value of $137,500.00. Following the transaction, the director now directly owns 36,942 shares of the company’s stock, valued at $923,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald J. Hayden, Jr. sold 14,900 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $28.08, for a total transaction of $418,392.00. Following the completion of the sale, the director now owns 77,097 shares in the company, valued at approximately $2,164,883.76. The disclosure for this sale can be found here. Insiders have sold 37,686 shares of company stock worth $1,079,517 over the last ninety days. Insiders own 3.88% of the company’s stock.
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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.
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