New York State Common Retirement Fund Boosts Stake in Insmed Incorporated (NASDAQ:INSM)

New York State Common Retirement Fund increased its position in Insmed Incorporated (NASDAQ:INSM) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,131 shares of the biopharmaceutical company’s stock after purchasing an additional 3,841 shares during the quarter. New York State Common Retirement Fund’s holdings in Insmed were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on INSM shares. UBS Group assumed coverage on shares of Insmed in a research note on Tuesday, February 27th. They set a “buy” rating and a $46.00 target price for the company. Barclays boosted their target price on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price target on shares of Insmed in a report on Monday, April 1st. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Truist Financial started coverage on shares of Insmed in a research report on Tuesday, April 23rd. They set a “buy” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $44.92.

Insmed Stock Down 0.3 %

Shares of NASDAQ INSM opened at $26.00 on Thursday. The firm’s 50-day moving average price is $26.61 and its 200-day moving average price is $27.07. Insmed Incorporated has a 52-week low of $18.08 and a 52-week high of $32.00. The company has a market cap of $3.86 billion, a PE ratio of -4.87 and a beta of 0.93.

Insmed (NASDAQ:INSM) last posted its earnings results 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 business had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.20) earnings per share. As a group, equities research analysts anticipate that Insmed Incorporated will post -4.65 EPS for the current fiscal 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.