Insmed Incorporated (NASDAQ:INSM) Stock Position Reduced by Strs Ohio

Strs Ohio lessened its position in shares of Insmed Incorporated (NASDAQ:INSM) by 53.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,000 shares of the biopharmaceutical company’s stock after selling 12,700 shares during the period. Strs Ohio’s holdings in Insmed were worth $340,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Insmed during the 4th quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. raised its position in shares of Insmed by 106.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 1,910 shares during the period. Assetmark Inc. raised its position in shares of Insmed by 10.7% during the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 463 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Insmed during the 3rd quarter worth approximately $208,000. Finally, Beacon Financial Advisory LLC acquired a new stake in shares of Insmed during the 3rd quarter worth approximately $254,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial assumed coverage on Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price target on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 price target on shares of Insmed in a research report on Monday, April 1st. 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. 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. Finally, 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. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Performance

Shares of INSM stock opened at $25.00 on Tuesday. Insmed Incorporated has a 1 year low of $18.08 and a 1 year high of $32.00. The stock has a market cap of $3.71 billion, a PE ratio of -4.68 and a beta of 0.92. The business’s fifty day moving average is $26.98 and its 200-day moving average is $27.06.

Insmed (NASDAQ:INSM) last issued 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 firm had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.15 million. During the same quarter in the previous year, the business posted ($1.20) EPS. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. Equities research analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current 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.