Principal Financial Group Inc. Acquires 214,130 Shares of Insmed Incorporated (NASDAQ:INSM)

Principal Financial Group Inc. grew its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,871,890 shares of the biopharmaceutical company's stock after buying an additional 214,130 shares during the period. Principal Financial Group Inc. owned 1.09% of Insmed worth $136,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AlphaCentric Advisors LLC bought a new stake in shares of Insmed during the third quarter valued at approximately $365,000. Emerald Advisers LLC raised its position in shares of Insmed by 7.7% during the third quarter. Emerald Advisers LLC now owns 689,807 shares of the biopharmaceutical company's stock valued at $50,356,000 after buying an additional 49,540 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Insmed during the third quarter valued at approximately $9,138,000. Harbor Capital Advisors Inc. bought a new stake in shares of Insmed during the third quarter valued at approximately $1,291,000. Finally, US Bancorp DE raised its position in shares of Insmed by 55.3% during the third quarter. US Bancorp DE now owns 7,932 shares of the biopharmaceutical company's stock valued at $579,000 after buying an additional 2,824 shares during the last quarter.

Insmed Trading Up 2.6 %

INSM stock traded up $1.85 during mid-day trading on Friday, reaching $73.54. 1,121,855 shares of the stock traded hands, compared to its average volume of 1,219,105. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53. The stock has a market capitalization of $13.16 billion, a PE ratio of -13.25 and a beta of 1.12. The business has a 50-day moving average price of $72.51 and a two-hundred day moving average price of $63.12.

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

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company's 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 transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INSM shares. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Bank of America boosted their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of Insmed from $60.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, July 12th. UBS Group boosted their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.07.

Insmed Company 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.