Adage Capital Partners GP L.L.C. Grows Stake in Insmed, Inc. $INSM

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Insmed, Inc. by 109.2%, owning approximately 1.90% of the company, valued at $262.97 million as of its latest SEC filing.
• Several analysts have recently upgraded Insmed's stock ratings, with target prices rising to a consensus of $132.57 and a strong "Buy" rating from 16 analysts.
• Insmed reported a loss of $1.70 per share in its latest earnings, which was below analyst expectations, but its revenue increased by 18.9% year-over-year to $107.42 million.

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 109.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,446,944 shares of the biopharmaceutical company's stock after purchasing an additional 1,799,382 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.90% of Insmed worth $262,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Insmed by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company's stock valued at $1,393,675,000 after purchasing an additional 49,149 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Insmed by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,923,541 shares of the biopharmaceutical company's stock worth $985,938,000 after buying an additional 219,131 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Insmed by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,602,655 shares of the biopharmaceutical company's stock valued at $122,267,000 after buying an additional 56,048 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Insmed by 49.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,406,609 shares of the biopharmaceutical company's stock valued at $107,310,000 after buying an additional 468,058 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in Insmed by 21.3% during the 1st quarter. GW&K Investment Management LLC now owns 1,377,726 shares of the biopharmaceutical company's stock valued at $105,107,000 after buying an additional 242,333 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on INSM shares. Bank of America raised their price target on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. UBS Group raised their price target on Insmed from $124.00 to $133.00 and gave the company a "buy" rating in a report on Friday, August 8th. Royal Bank Of Canada raised their price target on Insmed from $108.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Morgan Stanley raised their price target on Insmed from $126.00 to $144.00 and gave the company an "equal weight" rating in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. upped their price objective on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $134.79.

Insider Transactions at Insmed

In other news, Director Melvin Md Sharoky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the sale, the director directly owned 274,516 shares in the company, valued at approximately $35,549,822. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Adsett sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total value of $3,189,500.00. Following the completion of the sale, the chief operating officer owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 535,320 shares of company stock valued at $54,581,793. Company insiders own 3.00% of the company's stock.

Insmed Trading Up 1.8%

Shares of NASDAQ:INSM traded up $2.57 during trading on Friday, hitting $145.10. The company had a trading volume of 2,532,328 shares, compared to its average volume of 2,914,153. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of -25.41 and a beta of 0.97. Insmed, Inc. has a one year low of $60.40 and a one year high of $146.84. The company has a fifty day simple moving average of $114.64 and a two-hundred day simple moving average of $89.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.68 and a quick ratio of 6.33.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The business had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. During the same quarter in the previous year, the company posted ($1.94) earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

About Insmed

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.