TD Asset Management Inc reduced its position in shares of Insmed Incorporated (NASDAQ:INSM – Free Report) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 328,987 shares of the biopharmaceutical company’s stock after selling 15,930 shares during the period. TD Asset Management Inc’s holdings in Insmed were worth $6,942,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC lifted its position in shares of Insmed by 15.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 11,405 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 1,500 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Insmed by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 62,884 shares of the biopharmaceutical company’s stock valued at $1,478,000 after acquiring an additional 22,831 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Insmed during the 1st quarter valued at $660,000. Rhumbline Advisers lifted its position in shares of Insmed by 4.7% during the 1st quarter. Rhumbline Advisers now owns 127,777 shares of the biopharmaceutical company’s stock valued at $3,003,000 after acquiring an additional 5,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Insmed by 52.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 624,309 shares of the biopharmaceutical company’s stock valued at $14,670,000 after acquiring an additional 215,093 shares during the last quarter.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Evercore ISI increased their target price on Insmed from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. HC Wainwright restated a “buy” rating and issued a $52.00 target price on shares of Insmed in a report on Wednesday, September 6th. Guggenheim increased their target price on Insmed from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $36.00 price objective on shares of Insmed in a report on Monday. Finally, StockNews.com initiated coverage on Insmed in a report on Thursday, October 5th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.27.
Insmed Stock Performance
Shares of NASDAQ:INSM opened at $24.62 on Tuesday. The company has a market cap of $3.52 billion, a P/E ratio of -4.67 and a beta of 1.40. The stock’s 50-day moving average is $25.08 and its 200-day moving average is $22.34. Insmed Incorporated has a 52-week low of $16.04 and a 52-week high of $27.59.
Insmed (NASDAQ:INSM – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.04). Insmed had a negative net margin of 257.69% and a negative return on equity of 3,789.32%. The business had revenue of $79.07 million during the quarter, compared to analyst estimates of $78.86 million. As a group, equities analysts predict that Insmed Incorporated will post -5.18 EPS for the current year.
Insider Activity at Insmed
In other Insmed news, CEO William Lewis sold 112,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $24.08, for a total transaction of $2,696,960.00. Following the completion of the transaction, the chief executive officer now owns 342,648 shares in the company, valued at $8,250,963.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by corporate insiders.
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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