abrdn plc Acquires Shares of 100,000 Insmed Incorporated (NASDAQ:INSM)

abrdn plc acquired a new stake in Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,099,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock valued at $362,224,000 after purchasing an additional 1,024,956 shares during the period. Loomis Sayles & Co. L P grew its holdings in Insmed by 47.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company’s stock valued at $60,172,000 after purchasing an additional 769,443 shares during the period. RTW Investments LP grew its holdings in Insmed by 86.5% in the third quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company’s stock valued at $47,094,000 after purchasing an additional 865,108 shares during the period. Northern Trust Corp grew its holdings in Insmed by 1.7% in the third quarter. Northern Trust Corp now owns 1,346,432 shares of the biopharmaceutical company’s stock valued at $33,997,000 after purchasing an additional 21,875 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Insmed by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,290,282 shares of the biopharmaceutical company’s stock valued at $32,580,000 after purchasing an additional 29,187 shares during the period.

Insmed Stock Performance

Shares of Insmed stock opened at $24.80 on Monday. Insmed Incorporated has a one year low of $18.08 and a one year high of $32.00. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -4.64 and a beta of 0.92. The business’s 50 day moving average price is $27.07 and its 200 day moving average price is $27.06.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The company had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $82.15 million. During the same quarter last year, the firm posted ($1.20) EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, analysts predict that Insmed Incorporated will post -4.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wolfe Research started coverage on Insmed in a report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price objective on the stock. UBS Group started coverage on Insmed in a research report on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. Barclays raised their target price on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Guggenheim raised their target price on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.92.

About Insmed

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.