LPL Financial LLC Has $3.91 Million Stake in Insmed, Inc. (NASDAQ:INSM)

LPL Financial LLC boosted its stake in Insmed, Inc. (NASDAQ:INSM) by 56.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 51,213 shares of the biopharmaceutical company’s stock after buying an additional 18,456 shares during the period. LPL Financial LLC’s holdings in Insmed were worth $3,907,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in shares of Insmed during the fourth quarter worth $1,746,000. Mariner LLC lifted its stake in shares of Insmed by 23.4% during the fourth quarter. Mariner LLC now owns 30,788 shares of the biopharmaceutical company’s stock valued at $2,126,000 after acquiring an additional 5,844 shares during the period. Jump Financial LLC acquired a new position in Insmed in the fourth quarter valued at about $230,000. CANADA LIFE ASSURANCE Co lifted its stake in Insmed by 4.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,379 shares of the biopharmaceutical company’s stock valued at $2,717,000 after buying an additional 1,568 shares during the period. Finally, Altium Capital Management LLC lifted its stake in Insmed by 1.5% in the fourth quarter. Altium Capital Management LLC now owns 132,000 shares of the biopharmaceutical company’s stock valued at $9,113,000 after buying an additional 2,000 shares during the period.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Insmed from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $120.00 price target (up from $108.00) on shares of Insmed in a report on Friday, August 8th. Wells Fargo & Company increased their price target on Insmed from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial increased their price objective on Insmed from $126.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $126.00 price target on shares of Insmed in a research note on Wednesday. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $129.57.

Insmed Stock Performance

Shares of INSM opened at $127.80 on Friday. The stock has a 50 day moving average of $103.62 and a 200 day moving average of $83.88. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $128.48. The company has a market capitalization of $27.01 billion, a price-to-earnings ratio of -22.38 and a beta of 0.95. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share 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 firm had revenue of $107.42 million for the quarter, compared to the consensus estimate of $104.06 million. During the same period last year, the company posted ($1.94) earnings per share. Insmed’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $102.37, for a total transaction of $699,187.10. Following the sale, the chief executive officer owned 233,924 shares in the company, valued at $23,946,799.88. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider owned 89,407 shares in the company, valued at $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 525,716 shares of company stock worth $49,665,671. 3.00% of the stock is currently owned by corporate insiders.

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.