Raymond James Financial Inc. Has $31.20 Million Stock Position in Insmed, Inc. $INSM

Key Points

• Raymond James Financial Inc. has increased its holdings in Insmed, Inc. by 9.2%, owning approximately 408,937 shares worth $31.2 million after buying an additional 34,491 shares.
• Insmed's stock has received positive ratings from multiple analysts, with target prices raised by firms like Stifel Nicolaus and Goldman Sachs, reflecting a strong overall consensus of a Buy rating.
• Insmed reported a quarterly EPS of ($1.70), missing estimates but showing an 18.9% year-over-year increase in revenue with $107.4 million reported.

Raymond James Financial Inc. grew its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,937 shares of the biopharmaceutical company's stock after acquiring an additional 34,491 shares during the period. Raymond James Financial Inc. owned 0.22% of Insmed worth $31,197,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. M&T Bank Corp lifted its holdings in Insmed by 4.7% during the 1st quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock worth $252,000 after buying an additional 147 shares in the last quarter. Snowden Capital Advisors LLC raised its position in shares of Insmed by 2.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after acquiring an additional 158 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Insmed by 6.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company's stock valued at $287,000 after acquiring an additional 228 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its position in shares of Insmed by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 35,668 shares of the biopharmaceutical company's stock valued at $2,463,000 after acquiring an additional 235 shares during the last quarter.

Insider Activity at Insmed

In other news, Director Melvin Md Sharoky sold 10,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the transaction, the director directly owned 274,516 shares in the company, valued at $35,549,822. This represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Adsett sold 25,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $127.58, for a total transaction of $3,189,500.00. Following the transaction, the chief operating officer owned 105,637 shares of the company's stock, valued at approximately $13,477,168.46. This represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 539,694 shares of company stock worth $53,144,604. Corporate insiders own 3.00% of the company's stock.

Insmed Stock Up 1.8%

NASDAQ INSM traded up $2.36 on Wednesday, reaching $134.53. The company had a trading volume of 2,025,015 shares, compared to its average volume of 3,248,110. The firm has a market capitalization of $28.44 billion, a price-to-earnings ratio of -23.56 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $134.74. The company's fifty day moving average is $109.35 and its 200-day moving average is $86.71.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $104.06 million. During the same quarter in the prior year, the company earned ($1.94) earnings per share. The company's quarterly revenue was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. On average, research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on INSM. Jefferies Financial Group upped their target price on shares of Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Leerink Partners upped their target price on shares of Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. HC Wainwright upped their target price on shares of Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their target price on shares of Insmed from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada upped their target price on shares of Insmed from $108.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Sixteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.57.

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.