JGP Global Gestao de Recursos Ltda. Sells 2,973 Shares of Insmed, Inc. (NASDAQ:INSM)

Key Points

• JGP Global Gestao de Recursos Ltda. reduced its holdings in Insmed, Inc. by 48.6%, now owning 3,147 shares valued at approximately $240,000, making it the 28th largest position in their portfolio.
• Insmed's latest earnings showed a loss of ($1.42) EPS, missing estimates; however, their quarterly revenue increased 22.9% year-over-year to $92.82 million.
• Several analysts have increased their price targets for Insmed, with HC Wainwright setting a new target at $120.00 and most analysts rating it as a "buy" with an average price target of $109.20.

JGP Global Gestao de Recursos Ltda. lessened its holdings in Insmed, Inc. (NASDAQ:INSM - Free Report) by 48.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,147 shares of the biopharmaceutical company's stock after selling 2,973 shares during the quarter. Insmed makes up approximately 0.2% of JGP Global Gestao de Recursos Ltda.'s holdings, making the stock its 28th biggest holding. JGP Global Gestao de Recursos Ltda.'s holdings in Insmed were worth $240,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Darwin Global Management Ltd. boosted its stake in shares of Insmed by 23.5% in the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock valued at $894,796,000 after purchasing an additional 2,463,261 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Insmed by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock valued at $877,113,000 after purchasing an additional 123,429 shares during the last quarter. Capital International Investors boosted its stake in shares of Insmed by 9.1% in the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after purchasing an additional 593,206 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Insmed by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock valued at $282,243,000 after acquiring an additional 273,759 shares during the period. Finally, FIL Ltd raised its position in shares of Insmed by 8.1% in the 4th quarter. FIL Ltd now owns 2,638,160 shares of the biopharmaceutical company's stock valued at $182,139,000 after acquiring an additional 198,412 shares during the period.

Insmed Stock Down 1.8%

Shares of NASDAQ:INSM traded down $1.96 during midday trading on Thursday, hitting $109.30. The stock had a trading volume of 3,334,923 shares, compared to its average volume of 2,771,852. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $113.10. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. The business's 50-day simple moving average is $97.05 and its 200-day simple moving average is $81.86. The company has a market cap of $20.74 billion, a P/E ratio of -18.37 and a beta of 0.95.

Insmed (NASDAQ:INSM - Get Free Report) last released its 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 net margin of 265.93% and a negative return on equity of 446.98%. The firm had revenue of $107.42 million during the quarter, compared to the consensus estimate of $104.06 million. During the same period in the prior year, the business posted ($1.94) earnings per share. Insmed's quarterly revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 9,925 shares of Insmed stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.47, for a total transaction of $649,789.75. Following the completion of the transaction, the insider directly owned 86,596 shares of the company's stock, valued at $5,669,440.12. The trade was a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of Insmed stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the transaction, the insider directly owned 89,407 shares of the company's stock, valued at approximately $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 599,767 shares of company stock valued at $54,625,108. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INSM. Citigroup upgraded shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. Bank of America raised their target price on shares of Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada raised their target price on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. raised their target price on shares of Insmed from $90.00 to $111.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Mizuho raised their target price on shares of Insmed from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, Insmed has an average rating of "Moderate Buy" and a consensus price target of $109.20.

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.