AustralianSuper Pty Ltd Takes $1.74 Million Position in Insmed, Inc. $INSM

Key Points

• AustralianSuper Pty Ltd opened a new position in Insmed during the fourth quarter, buying 10,005 shares valued at about $1.74 million.
• Analysts remain mostly positive on the stock, with multiple firms reiterating or initiating buy ratings and a consensus target price of $210.95, despite Wells Fargo trimming its price target to $160.
• Insmed reported better-than-expected quarterly results, posting a smaller loss per share than expected and revenue of $305.96 million, up 229.7% year over year.

AustralianSuper Pty Ltd purchased a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,005 shares of the biopharmaceutical company's stock, valued at approximately $1,741,000.

Several other hedge funds have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Insmed during the 4th quarter worth $124,000. Allworth Financial LP raised its stake in Insmed by 20.5% during the 4th quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company's stock worth $111,000 after buying an additional 108 shares during the period. Strategic Family Wealth Counselors L.L.C. acquired a new stake in Insmed during the 4th quarter worth $207,000. Meridian Wealth Management LLC acquired a new stake in Insmed during the 4th quarter worth $285,000. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in Insmed during the 4th quarter worth $1,684,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on INSM shares. Wells Fargo & Company dropped their price objective on Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group started coverage on Insmed in a research note on Monday, March 16th. They set a "buy" rating and a $228.00 price objective on the stock. Stifel Nicolaus raised their price objective on Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

Insmed Price Performance

INSM stock opened at $109.14 on Friday. The stock has a 50-day moving average price of $141.33 and a two-hundred day moving average price of $163.26. The stock has a market cap of $23.66 billion, a PE ratio of -18.98 and a beta of 0.89. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 1 year low of $64.85 and a 1 year high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company's revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.42) EPS. Equities analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 19,638 shares of the firm's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This trade represents a 27.46% 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, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer owned 301,185 shares of the company's stock, valued at $43,361,604.45. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 161,193 shares of company stock worth $25,462,012. Corporate insiders own 2.10% of the company's stock.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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