SBI Okasan Asset Management Co.Ltd. Invests $3.56 Million in Insmed, Inc. $INSM

Key Points

• SBI Okasan Asset Management opened a new position in Insmed, buying 20,200 shares valued at about $3.56 million in the fourth quarter. The stake represents roughly 0.2% of its portfolio.
• Wall Street remains mostly positive on Insmed, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of about $210.95.
• Insmed reported quarterly earnings that beat expectations, with revenue of $305.96 million, up 229.7% year over year. However, the company still posted a loss and insider selling continued over the past 90 days.

SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,200 shares of the biopharmaceutical company's stock, valued at approximately $3,562,000. Insmed makes up approximately 0.2% of SBI Okasan Asset Management Co.Ltd.'s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also made changes to their positions in INSM. Artisan Partners Limited Partnership raised its holdings in Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after acquiring an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC bought a new stake in Insmed during the third quarter valued at $13,681,000. iA Global Asset Management Inc. increased its stake in Insmed by 15,973.5% during the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after purchasing an additional 26,516 shares during the last quarter. Nordea Investment Management AB bought a new stake in Insmed during the fourth quarter valued at $3,492,000. Finally, Keybank National Association OH increased its stake in Insmed by 76.7% during the third quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company's stock valued at $2,407,000 after purchasing an additional 7,257 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on INSM. Bank of America boosted their target price on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Mizuho boosted their target price on shares of Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. HC Wainwright reiterated a "buy" rating on shares of Insmed in a research note on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a research report on Tuesday, April 21st. Finally, Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $166.00 to $212.00 in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Insmed has an average rating of "Moderate Buy" and an average target price of $210.95.

Insmed Stock Up 1.9%

Insmed stock opened at $108.37 on Friday. The company has a 50-day simple moving average of $135.14 and a 200-day simple moving average of $158.47. The firm has a market capitalization of $23.49 billion, a P/E ratio of -18.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a one year low of $65.56 and a one year high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed's revenue was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.42) EPS. As a group, equities analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current year.

Insider Activity at Insmed

In related news, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares in the company, valued at $7,831,483.58. This represents a 27.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $143.52, for a total transaction of $1,535,520.48. Following the completion of the transaction, the chief executive officer owned 301,185 shares of the company's stock, valued at $43,226,071.20. This represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 156,643 shares of company stock worth $24,513,766 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

About Insmed

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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