Longboard Asset Management LP Invests $205,000 in Insmed, Inc. $INSM

Key Points

• Longboard Asset Management LP has purchased 2,041 shares of Insmed, Inc., valued at approximately $205,000, marking a new investment during the second quarter.
• Insmed's recent earnings report showed a loss of ($1.70) earnings per share, missing expectations, though revenue grew by 18.9% year-over-year to $107.42 million.
• Multiple brokerages have raised their target prices for Insmed, with Wells Fargo setting a new target of $171.00 and maintaining an "overweight" rating on the stock.

Longboard Asset Management LP bought a new position in Insmed, Inc. (NASDAQ:INSM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,041 shares of the biopharmaceutical company's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INSM. Cetera Investment Advisers boosted its stake in shares of Insmed by 15.0% in the 4th quarter. Cetera Investment Advisers now owns 10,154 shares of the biopharmaceutical company's stock worth $701,000 after buying an additional 1,321 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in shares of Insmed by 2.5% in the 4th quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after buying an additional 158 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Insmed by 36.2% in the 4th quarter. Vident Advisory LLC now owns 4,937 shares of the biopharmaceutical company's stock worth $341,000 after buying an additional 1,312 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Insmed by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,847 shares of the biopharmaceutical company's stock worth $33,612,000 after buying an additional 63,911 shares during the last quarter. Finally, Elequin Capital LP purchased a new position in shares of Insmed in the 4th quarter worth approximately $28,000.

Insmed Stock Up 0.0%

Shares of NASDAQ:INSM opened at $144.78 on Thursday. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $149.08. The firm has a fifty day moving average of $122.26 and a 200 day moving average of $93.24. The firm has a market capitalization of $30.60 billion, a PE ratio of -25.36 and a beta of 0.97. 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 (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. During the same quarter last year, the firm posted ($1.94) earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Melvin Md Sharoky sold 10,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total value of $1,295,000.00. Following the completion of the transaction, the director directly owned 274,516 shares in the company, valued at approximately $35,549,822. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the completion of the transaction, the insider owned 54,902 shares of the company's stock, valued at $7,899,848.78. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,097 shares of company stock valued at $39,721,648 in the last three months. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INSM. Bank of America boosted their target price on Insmed from $94.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. HC Wainwright lifted their price target on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wells Fargo & Company raised their target price on Insmed from $140.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group raised their target price on Insmed from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus raised their target price on Insmed from $121.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Sixteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.86.

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.

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