Eagle Asset Management Inc. Sells 51,455 Shares of Insmed Incorporated (NASDAQ:INSM)

Eagle Asset Management Inc. lessened its position in Insmed Incorporated (NASDAQ:INSM) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,235 shares of the biopharmaceutical company’s stock after selling 51,455 shares during the quarter. Eagle Asset Management Inc. owned 0.15% of Insmed worth $19,358,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Insmed in the 3rd quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Insmed in the 1st quarter worth about $33,000.

Analyst Upgrades and Downgrades

INSM has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, TD Cowen raised their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Trading Down 0.9 %

NASDAQ INSM opened at $73.15 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company’s 50-day simple moving average is $72.07 and its two-hundred day simple moving average is $65.70. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the business earned ($1.10) earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The shares were 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. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 in the last 90 days. Insiders own 4.60% of the company’s stock.

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.