Highland Capital Management LLC Takes $1.49 Million Position in Insmed, Inc. $INSM

Key Points

• Highland Capital Management opened a new position in Insmed in Q4, acquiring 8,558 shares worth approximately $1.49 million.
• Company insiders have been net sellers: COO Roger Adsett sold 88,060 shares (~$14.5M) and CEO William Lewis sold 10,699 shares (~$1.54M), with insiders selling 174,589 shares (~$27.44M) over the quarter.
• Analysts are mostly positive with an average “Buy” rating and a $213.23 price target, while the stock trades near $139 and the company missed Q4 EPS estimates (reported ($1.54) vs. expected ($1.07)) despite revenue growth.

Highland Capital Management LLC acquired a new stake in Insmed, Inc. (NASDAQ:INSM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,558 shares of the biopharmaceutical company's stock, valued at approximately $1,489,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Insmed by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company's stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares during the period. Darwin Global Management Ltd. boosted its stake in shares of Insmed by 5.8% in the third quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company's stock valued at $2,897,797,000 after purchasing an additional 1,112,824 shares during the period. Capital International Investors boosted its stake in shares of Insmed by 1.0% in the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company's stock valued at $1,087,830,000 after purchasing an additional 74,994 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the period. Finally, Duquesne Family Office LLC boosted its stake in shares of Insmed by 3.0% in the third quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company's stock valued at $348,999,000 after purchasing an additional 70,000 shares during the period.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price target on shares of Insmed from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. UBS Group decreased their price target on shares of Insmed from $223.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, January 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Roth Mkm reiterated a "buy" rating and issued a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. Finally, Jefferies Financial Group initiated coverage on shares of Insmed in a research note on Monday, March 16th. They issued a "buy" rating and a $228.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $213.23.

Insiders Place Their Bets

In other Insmed news, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the sale, the chief operating officer owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the sale, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 174,589 shares of company stock valued at $27,441,807. 2.10% of the stock is owned by corporate insiders.

Insmed Stock Down 0.4%

INSM stock opened at $139.44 on Wednesday. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. Insmed, Inc. has a twelve month low of $63.81 and a twelve month high of $212.75. The company's 50 day moving average is $147.38 and its two-hundred day moving average is $166.07. The stock has a market cap of $30.10 billion, a P/E ratio of -21.75 and a beta of 0.89.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. During the same period in the previous year, the business posted ($1.32) EPS. The firm's revenue for the quarter was up 152.6% compared to the same quarter last year. Research analysts expect that Insmed, Inc. will post -2.51 earnings per share for the current fiscal year.

Insmed 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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