Oppenheimer Asset Management Inc. Buys 7,751 Shares of Insmed Incorporated (NASDAQ:INSM)

Oppenheimer Asset Management Inc. increased its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 115.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,449 shares of the biopharmaceutical company's stock after acquiring an additional 7,751 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Insmed were worth $1,055,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of INSM. SG Americas Securities LLC grew its position in Insmed by 123.1% during the 1st quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company's stock worth $231,000 after acquiring an additional 4,695 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company's stock worth $600,000 after buying an additional 21,963 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company's stock worth $1,037,000 after buying an additional 610 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company's stock worth $393,636,000 after buying an additional 383,714 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Insmed during the 1st quarter worth $25,242,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on INSM shares. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Bank of America upped their price objective on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Truist Financial reaffirmed a "buy" rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. TD Cowen increased their price target on Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Finally, UBS Group increased their price target on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, Insmed has a consensus rating of "Moderate Buy" and a consensus price target of $83.07.

Insmed Trading Up 10.7 %

Insmed stock traded up $7.11 during mid-day trading on Tuesday, hitting $73.72. 2,902,748 shares of the company's stock were exchanged, compared to its average volume of 2,251,792. The firm has a market capitalization of $13.19 billion, a P/E ratio of -13.28 and a beta of 1.12. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company's 50 day simple moving average is $72.03 and its 200-day simple moving average is $65.26.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. On average, equities analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company's stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by company 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.