New York State Common Retirement Fund Purchases 3,841 Shares of Insmed Incorporated (NASDAQ:INSM)

New York State Common Retirement Fund boosted its position in Insmed Incorporated (NASDAQ:INSM) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,131 shares of the biopharmaceutical company’s stock after acquiring an additional 3,841 shares during the period. New York State Common Retirement Fund’s holdings in Insmed were worth $1,739,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Insmed in the 4th quarter worth $25,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Insmed by 106.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,910 shares during the last quarter. Assetmark Inc. increased its position in shares of Insmed by 10.7% during the third 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. Xponance Inc. acquired a new stake in shares of Insmed in the 4th quarter worth about $259,000. Finally, Mackenzie Financial Corp bought a new position in Insmed in the 3rd quarter valued at about $208,000.

Insmed Stock Down 0.3 %

INSM opened at $26.00 on Thursday. Insmed Incorporated has a twelve month low of $18.08 and a twelve month high of $32.00. The company’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $27.07. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -4.87 and a beta of 0.93.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company had revenue of $83.70 million during the quarter, compared to analyst estimates of $82.15 million. During the same quarter last year, the firm posted ($1.20) EPS. The company’s revenue was up 41.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Insmed Incorporated will post -4.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wolfe Research started coverage on Insmed in a report 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 price target on shares of Insmed in a research report on Monday, April 1st. Barclays raised their price objective on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group began coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 target price for the company. Finally, Guggenheim raised their price target on shares of Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has a consensus 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.