Eagle Asset Management Inc. raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,524,798 shares of the biopharmaceutical company’s stock after acquiring an additional 23,240 shares during the quarter. Eagle Asset Management Inc.’s holdings in Insmed were worth $26,897,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. A.R.T. Advisors LLC raised its holdings in shares of Insmed by 4.7% during the second quarter. A.R.T. Advisors LLC now owns 22,177 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 1,000 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in shares of Insmed by 1,002.5% during the second quarter. Glen Harbor Capital Management LLC now owns 14,994 shares of the biopharmaceutical company’s stock valued at $384,000 after acquiring an additional 13,634 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Insmed by 10.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 490,072 shares of the biopharmaceutical company’s stock valued at $12,546,000 after acquiring an additional 47,353 shares during the last quarter. Foresite Capital Management II LLC raised its holdings in shares of Insmed by 3.9% during the second quarter. Foresite Capital Management II LLC now owns 955,462 shares of the biopharmaceutical company’s stock valued at $24,460,000 after acquiring an additional 36,026 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Insmed by 936.4% during the second quarter. Point72 Asset Management L.P. now owns 747,266 shares of the biopharmaceutical company’s stock valued at $19,130,000 after acquiring an additional 675,166 shares during the last quarter.
A number of brokerages have commented on INSM. Credit Suisse Group reissued a “buy” rating and set a $40.00 target price on shares of Insmed in a report on Tuesday, September 10th. Goldman Sachs Group began coverage on Insmed in a report on Tuesday, September 3rd. They set a “buy” rating and a $30.00 target price for the company. Morgan Stanley set a $37.00 target price on Insmed and gave the company a “buy” rating in a report on Friday, November 1st. BidaskClub raised Insmed from a “strong sell” rating to a “sell” rating in a report on Saturday, November 2nd. Finally, ValuEngine cut Insmed from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.88.
Shares of INSM stock traded up $0.03 during trading hours on Friday, reaching $19.07. The company had a trading volume of 704,100 shares, compared to its average volume of 1,074,463. Insmed Incorporated has a 12-month low of $11.31 and a 12-month high of $33.13. The stock has a fifty day moving average of $18.11 and a 200-day moving average of $21.74. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -4.57 and a beta of 2.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 6.70 and a current ratio of 6.97.
Insmed (NASDAQ:INSM) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.01). Insmed had a negative return on equity of 114.68% and a negative net margin of 291.19%. The firm had revenue of $38.89 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter in the prior year, the business earned ($1.14) earnings per share. On average, analysts forecast that Insmed Incorporated will post -2.91 EPS for the current year.
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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