Jennison Associates LLC Makes New $3.75 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Jennison Associates LLC purchased a new stake in Insmed Incorporated (NASDAQ:INSM) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 120,831 shares of the biopharmaceutical company’s stock, valued at approximately $3,745,000. Jennison Associates LLC owned approximately 0.08% of Insmed as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INSM. Handelsbanken Fonder AB boosted its stake in Insmed by 2.5% in the fourth quarter. Handelsbanken Fonder AB now owns 28,581 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 700 shares in the last quarter. abrdn plc purchased a new position in Insmed during the 4th quarter worth $3,099,000. Knights of Columbus Asset Advisors LLC increased its position in Insmed by 101.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 228,783 shares of the biopharmaceutical company’s stock valued at $7,090,000 after buying an additional 114,987 shares in the last quarter. Xponance Inc. purchased a new stake in Insmed in the fourth quarter valued at about $259,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Insmed by 7.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,772 shares of the biopharmaceutical company’s stock worth $954,000 after acquiring an additional 2,095 shares in the last quarter.

Insmed Stock Down 0.5 %

Insmed stock opened at $24.80 on Friday. The business’s 50-day moving average price is $27.07 and its 200 day moving average price is $27.03. Insmed Incorporated has a 52 week low of $18.08 and a 52 week high of $32.00.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wolfe Research initiated coverage on shares of Insmed in a research note on Thursday, February 15th. They set an “outperform” rating and a $42.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Guggenheim boosted their price target on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Insmed has an average 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.