LPL Financial LLC Grows Stock Position in Insmed, Inc. (NASDAQ:INSM)

LPL Financial LLC grew its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 56.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,213 shares of the biopharmaceutical company’s stock after purchasing an additional 18,456 shares during the quarter. LPL Financial LLC’s holdings in Insmed were worth $3,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its holdings in Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 221 shares in the last quarter. Elequin Capital LP bought a new stake in Insmed in the fourth quarter worth $28,000. NBC Securities Inc. bought a new stake in Insmed in the first quarter worth $49,000. Versant Capital Management Inc lifted its position in Insmed by 546.3% in the first quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 590 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Insmed by 60.0% in the first quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 325 shares during the period.

Insider Buying and Selling

In related news, CFO Sara Bonstein sold 58,400 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $102.67, for a total transaction of $5,995,928.00. Following the transaction, the chief financial officer owned 73,505 shares of the company’s stock, valued at approximately $7,546,758.35. This represents a 44.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lewis sold 129,805 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $100.39, for a total value of $13,031,123.95. Following the transaction, the chief executive officer directly owned 233,924 shares in the company, valued at approximately $23,483,630.36. The trade was a 35.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,716 shares of company stock valued at $49,665,671. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup upgraded Insmed to a “buy” rating in a research note on Tuesday, June 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 target price (up previously from $108.00) on shares of Insmed in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their target price on Insmed from $90.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Leerink Partners lifted their target price on Insmed from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Finally, Truist Financial raised their price target on Insmed from $126.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.57.

Insmed Stock Performance

NASDAQ INSM opened at $127.80 on Friday. The stock’s fifty day moving average is $103.62 and its two-hundred day moving average is $83.88. The firm has a market capitalization of $27.01 billion, a P/E ratio of -22.38 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $128.48.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. During the same period last year, the company earned ($1.94) EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts anticipate that Insmed, Inc. will post -4.56 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.