Highland Capital Management LLC Takes $1.49 Million Position in Insmed, Inc. $INSM

Highland Capital Management LLC bought a new stake in Insmed, Inc. (NASDAQ:INSM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 8,558 shares of the biopharmaceutical company’s stock, valued at approximately $1,489,000.

Other institutional investors have also modified their holdings of the company. EULAV Asset Management acquired a new position in shares of Insmed in the 3rd quarter valued at $12,961,000. Artisan Partners Limited Partnership increased its holdings in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after acquiring an additional 1,623,342 shares during the period. Atika Capital Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at $13,681,000. Nisa Investment Advisors LLC increased its holdings in shares of Insmed by 374.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock valued at $1,507,000 after acquiring an additional 8,261 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Insmed in the 4th quarter valued at $3,492,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of recent research reports. Leerink Partners lifted their target price on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Stifel Nicolaus boosted their price objective on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Truist Financial set a $205.00 price objective on shares of Insmed in a research note on Monday, January 12th. Roth Mkm reissued a “buy” rating and issued a $212.00 price objective on shares of Insmed in a research note on Friday, April 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Insmed from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $213.23.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the sale, the insider directly owned 51,871 shares in the company, valued at approximately $7,831,483.58. The trade was a 27.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the sale, the chief executive officer owned 301,185 shares in the company, valued at $43,361,604.45. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 174,589 shares of company stock worth $27,441,807. Corporate insiders own 2.10% of the company’s stock.

Insmed Stock Performance

Shares of INSM opened at $139.44 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The stock has a market capitalization of $30.10 billion, a P/E ratio of -21.75 and a beta of 0.89. The company’s fifty day moving average is $147.38 and its two-hundred day moving average is $166.07. Insmed, Inc. has a 1 year low of $63.81 and a 1 year high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million during the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business’s quarterly revenue was up 152.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.32) earnings per share. On average, sell-side analysts predict that Insmed, Inc. will post -2.51 earnings per share for the current year.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.