Eagle Asset Management Inc. Sells 51,455 Shares of Insmed Incorporated (NASDAQ:INSM)

Eagle Asset Management Inc. lowered its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 16.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,235 shares of the biopharmaceutical company's stock after selling 51,455 shares during the quarter. Eagle Asset Management Inc. owned 0.15% of Insmed worth $19,358,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company's stock worth $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. bought a new position in shares of Insmed in the second quarter worth approximately $237,076,000. Principal Financial Group Inc. increased its stake in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock worth $136,648,000 after purchasing an additional 214,130 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Insmed by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company's stock valued at $105,431,000 after buying an additional 137,670 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company's stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company's stock, valued at $7,951,559.28. The trade was a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last quarter. Company insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on INSM. Stifel Nicolaus raised their price target on Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a report on Friday, August 9th. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. TD Cowen increased their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed Trading Down 0.9 %

Shares of Insmed stock traded down $0.66 during trading on Friday, hitting $73.15. The stock had a trading volume of 1,756,992 shares, compared to its average volume of 1,646,243. The stock has a market cap of $13.09 billion, a PE ratio of -13.18 and a beta of 1.12. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The firm's fifty day simple moving average is $72.04 and its 200-day simple moving average is $66.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. During the same quarter last year, the company posted ($1.10) earnings per share. The business's revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Insmed Profile

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.