Envestnet Asset Management Inc. Raises Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Envestnet Asset Management Inc. raised its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,358 shares of the biopharmaceutical company's stock after buying an additional 15,227 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Insmed worth $17,699,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI grew its stake in shares of Insmed by 9.7% during the 4th quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock worth $115,000 after acquiring an additional 147 shares in the last quarter. Abel Hall LLC grew its holdings in shares of Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company's stock valued at $230,000 after acquiring an additional 151 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. M&T Bank Corp raised its stake in shares of Insmed by 5.6% during the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock worth $217,000 after purchasing an additional 166 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Insmed by 5.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company's stock valued at $244,000 after buying an additional 183 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on INSM shares. Morgan Stanley increased their price target on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Insmed in a report on Friday, February 21st. Bank of America upped their price target on shares of Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insmed Trading Up 3.3 %

NASDAQ INSM traded up $2.33 during mid-day trading on Friday, reaching $72.53. 1,500,949 shares of the stock were exchanged, compared to its average volume of 2,273,347. The stock has a market cap of $13.19 billion, a P/E ratio of -12.97 and a beta of 1.07. 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 Incorporated has a one year low of $21.92 and a one year high of $84.91. The stock has a 50 day simple moving average of $75.49 and a 200-day simple moving average of $73.59.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. On average, analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of Insmed stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the sale, the insider now owns 97,083 shares of the company's stock, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total transaction of $479,192.80. Following the transaction, the chief executive officer now owns 233,924 shares of the company's stock, valued at $16,412,107.84. This represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 471,797 shares of company stock worth $37,621,239 in the last quarter. 3.00% of the stock is owned by corporate insiders.

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.