Insmed Incorporated (NASDAQ:INSM) Stock Holdings Lifted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 769,253 shares of the biopharmaceutical company’s stock after acquiring an additional 24,973 shares during the quarter. Jennison Associates LLC owned 0.43% of Insmed worth $56,155,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Darwin Global Management Ltd. purchased a new position in shares of Insmed during the second quarter valued at $237,076,000. Principal Financial Group Inc. raised its position in Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares during the period. Clearbridge Investments LLC boosted its position in Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after acquiring an additional 714,539 shares during the period. Finally, Capital International Investors acquired a new position in shares of Insmed in the 1st quarter valued at about $43,973,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. UBS Group boosted their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus raised their price target on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $83.07.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock worth $5,765,446 over the last 90 days. 4.60% of the stock is owned by insiders.

Insmed Price Performance

NASDAQ:INSM opened at $72.67 on Thursday. The firm has a market cap of $13.00 billion, a PE ratio of -13.09 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company’s 50-day moving average price is $72.07 and its two-hundred day moving average price is $65.60.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same quarter last year, the firm earned ($1.10) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Insmed 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.