Eagle Health Investments LP grew its holdings in Insmed, Inc. (NASDAQ:INSM – Free Report) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 224,271 shares of the biopharmaceutical company’s stock after buying an additional 13,371 shares during the period. Insmed accounts for approximately 6.4% of Eagle Health Investments LP’s holdings, making the stock its 3rd largest holding. Eagle Health Investments LP’s holdings in Insmed were worth $36,673,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CIBC Private Wealth Group LLC boosted its position in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC acquired a new position in Insmed during the fourth quarter worth $27,000. GraniteShares Advisors LLC acquired a new position in Insmed during the fourth quarter worth $30,000. Reflection Asset Management purchased a new position in shares of Insmed during the fourth quarter worth $30,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed during the fourth quarter worth $32,000.
Analyst Ratings Changes
Several research firms recently issued reports on INSM. Roth Capital reiterated a “buy” rating on shares of Insmed in a report on Monday, June 8th. Guggenheim reaffirmed a “buy” rating and issued a $207.00 target price on shares of Insmed in a research report on Friday, July 10th. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Raymond James Financial began coverage on shares of Insmed in a research report on Friday, April 10th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Mizuho set a $192.00 price objective on shares of Insmed in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $209.13.
Insmed Price Performance
INSM stock opened at $104.73 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm has a market capitalization of $22.70 billion, a P/E ratio of -18.21 and a beta of 0.78. The business’s 50-day moving average is $105.15 and its two-hundred day moving average is $132.75. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75.
Insmed (NASDAQ:INSM – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter last year, the business posted ($1.42) EPS. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. Analysts anticipate that Insmed, Inc. will post -2.43 earnings per share for the current fiscal year.
Insider Activity
In other news, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares in the company, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the sale, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 54,590 shares of company stock worth $5,793,738 in the last ninety days. 2.10% of the stock is owned by insiders.
Insmed Profile
Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.
The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.
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