Arizona State Retirement System Sells 657 Shares of Insmed Incorporated (NASDAQ:INSM)

Arizona State Retirement System trimmed its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,189 shares of the biopharmaceutical company’s stock after selling 657 shares during the quarter. Arizona State Retirement System’s holdings in Insmed were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Insmed by 10.7% during the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 463 shares during the period. PNC Financial Services Group Inc. grew its holdings in Insmed by 12.1% during the second quarter. PNC Financial Services Group Inc. now owns 5,579 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 604 shares during the period. Diversified Trust Co grew its holdings in Insmed by 4.2% during the third quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 792 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in Insmed by 11.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,354 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 881 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Insmed by 6.5% during the third quarter. Victory Capital Management Inc. now owns 15,486 shares of the biopharmaceutical company’s stock valued at $391,000 after purchasing an additional 948 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INSM. Barclays boosted their price objective on shares of Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price objective on shares of Insmed in a report on Monday, April 1st. UBS Group began coverage on shares of Insmed in a report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price target for the company. StockNews.com upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Wolfe Research began coverage on shares of Insmed in a report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $44.64.

Insmed Stock Performance

INSM stock opened at $26.82 on Tuesday. The company’s 50-day simple moving average is $27.64 and its 200 day simple moving average is $27.03. Insmed Incorporated has a 52 week low of $16.81 and a 52 week high of $32.00. The company has a market capitalization of $3.98 billion, a PE ratio of -5.02 and a beta of 0.92.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. During the same quarter in the previous year, the business earned ($1.20) EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, analysts forecast that Insmed Incorporated will post -4.65 EPS for the current year.

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.