Handelsbanken Fonder AB Acquires 700 Shares of Insmed Incorporated (NASDAQ:INSM)

Handelsbanken Fonder AB raised its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,581 shares of the biopharmaceutical company’s stock after acquiring an additional 700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Insmed were worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in INSM. International Assets Investment Management LLC bought a new stake in shares of Insmed during the 4th quarter valued at $25,000. China Universal Asset Management Co. Ltd. increased its position in shares of Insmed by 106.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,910 shares during the period. Assetmark Inc. lifted its holdings in shares of Insmed by 10.7% in the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 463 shares in the last quarter. Xponance Inc. bought a new position in shares of Insmed in the fourth quarter valued at approximately $259,000. Finally, Mackenzie Financial Corp purchased a new position in Insmed during the third quarter valued at approximately $208,000.

Insmed Stock Performance

Shares of INSM opened at $25.00 on Tuesday. Insmed Incorporated has a fifty-two week low of $18.08 and a fifty-two week high of $32.00. The firm has a 50 day moving average price of $26.98 and a 200-day moving average price of $27.06. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -4.68 and a beta of 0.92.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The business had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period last year, the firm posted ($1.20) EPS. As a group, equities research analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current year.

Analyst Ratings Changes

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

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.