Oppenheimer Asset Management Inc. Boosts Stake in Insmed, Inc. (NASDAQ:INSM)

Oppenheimer Asset Management Inc. grew its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 37.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,935 shares of the biopharmaceutical company's stock after buying an additional 5,453 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Insmed were worth $1,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INSM. National Bank of Canada FI increased its holdings in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after buying an additional 147 shares during the period. Snowden Capital Advisors LLC boosted its position in 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 in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares during the period. M&T Bank Corp increased its holdings in shares of Insmed by 5.6% in the 4th quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock valued at $217,000 after acquiring an additional 166 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Insmed by 3.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,314 shares of the biopharmaceutical company's stock worth $436,000 after acquiring an additional 225 shares in the last quarter.

Insmed Stock Performance

INSM traded down $2.25 on Friday, reaching $99.49. 34,467,302 shares of the stock were exchanged, compared to its average volume of 2,299,115. The company's 50-day moving average price is $78.01 and its 200 day moving average price is $75.55. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $106.83. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The firm has a market capitalization of $18.87 billion, a PE ratio of -16.72 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. During the same quarter in the previous year, the business earned ($1.06) earnings per share. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the transaction, the insider now directly owns 89,407 shares of the company's stock, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 129,805 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at approximately $23,483,630.36. This represents a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 488,752 shares of company stock worth $43,199,826 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INSM shares. Bank of America raised their price objective on Insmed from $94.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Wells Fargo & Company raised their price target on shares of Insmed from $107.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their price objective on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Morgan Stanley increased their target price on shares of Insmed from $90.00 to $102.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.80.

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.