Alkeon Capital Management LLC Invests $50.32 Million in Insmed, Inc. $INSM

Alkeon Capital Management LLC purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 500,000 shares of the biopharmaceutical company’s stock, valued at approximately $50,320,000. Alkeon Capital Management LLC owned 0.24% of Insmed at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hilltop National Bank acquired a new position in Insmed in the 2nd quarter worth approximately $28,000. ORG Partners LLC lifted its holdings in shares of Insmed by 220.2% in the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 196 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Insmed in the second quarter valued at $33,000. LRI Investments LLC acquired a new stake in shares of Insmed in the second quarter worth $59,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares during the period.

Insider Buying and Selling at Insmed

In related news, Director Elizabeth M. Anderson sold 5,000 shares of Insmed stock in a transaction on Monday, November 24th. The shares were sold at an average price of $204.58, for a total value of $1,022,900.00. Following the completion of the sale, the director owned 58,729 shares of the company’s stock, valued at approximately $12,014,778.82. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $195.90, for a total transaction of $14,692,500.00. Following the completion of the sale, the director owned 54,677 shares of the company’s stock, valued at $10,711,224.30. This represents a 57.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 147,130 shares of company stock valued at $28,480,051. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group upped their price target on Insmed from $194.00 to $223.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of Insmed in a research note on Wednesday, October 1st. Rothschild & Co Redburn assumed coverage on Insmed in a report on Thursday, December 4th. They issued a “buy” rating and a $263.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Wednesday, October 8th. Finally, William Blair started coverage on shares of Insmed in a research report on Wednesday, August 20th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.26.

Insmed Stock Up 0.9%

INSM opened at $197.01 on Friday. The company has a market capitalization of $42.02 billion, a PE ratio of -31.83 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $212.75. The business has a 50-day moving average of $185.10 and a 200-day moving average of $138.91.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The firm had revenue of $142.34 million during the quarter, compared to the consensus estimate of $114.33 million. During the same period in the previous year, the firm posted ($1.27) EPS. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities research analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal 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.