Insmed, Inc. $INSM Stake Lifted by Jennison Associates LLC

Key Points

• Jennison Associates LLC increased its Insmed stake by 7.5% in the first quarter, buying 42,398 additional shares to bring its holdings to 604,694 shares valued at about $98.9 million.
• Wall Street remains broadly bullish on INSM: the stock has a consensus Moderate Buy rating and an average price target of $211.05, with several firms recently raising or reaffirming positive ratings.
• Insmed reported stronger-than-expected quarterly results, posting a smaller-than-expected loss and revenue of $305.96 million, while revenue jumped 229.7% year over year.

Jennison Associates LLC lifted its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 604,694 shares of the biopharmaceutical company's stock after acquiring an additional 42,398 shares during the quarter. Jennison Associates LLC owned about 0.28% of Insmed worth $98,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its stake in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of Insmed during the 4th quarter valued at $27,000. GraniteShares Advisors LLC bought a new stake in shares of Insmed in the 4th quarter worth $30,000. Reflection Asset Management bought a new stake in shares of Insmed in the 4th quarter worth $30,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Insmed in the fourth quarter valued at $32,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INSM shares. Stifel Nicolaus raised their target price on Insmed from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. cut their price target on shares of Insmed from $180.00 to $179.00 and set an "overweight" rating for the company in a report on Monday, June 8th. Bank of America raised their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Raymond James Financial initiated coverage on shares of Insmed in a research note on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their target price on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.05.

Insider Activity

In related news, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the transaction, the chief executive officer owned 259,058 shares of the company's stock, valued at approximately $30,413,409.20. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,590 shares of company stock worth $5,793,738 over the last three months. 2.10% of the stock is owned by insiders.

Insmed Stock Performance

Shares of INSM opened at $108.32 on Monday. The business's 50-day moving average price is $105.72 and its 200 day moving average price is $135.63. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $23.48 billion, a P/E ratio of -18.84 and a beta of 0.78. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period in the prior year, the firm earned ($1.42) earnings per share. The business's quarterly revenue was up 229.7% on a year-over-year basis. Analysts expect that Insmed, Inc. will post -2.43 earnings per share for the current year.

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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