Insmed Incorporated (NASDAQ:INSM) Shares Acquired by Raymond James & Associates

Raymond James & Associates raised its holdings in Insmed Incorporated (NASDAQ:INSM) by 77.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,321 shares of the biopharmaceutical company’s stock after buying an additional 44,564 shares during the period. Raymond James & Associates owned approximately 0.13% of Insmed worth $2,974,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Emerald Mutual Fund Advisers Trust lifted its position in shares of Insmed by 64.1% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 841,119 shares of the biopharmaceutical company’s stock worth $24,451,000 after purchasing an additional 328,472 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Insmed by 12.0% during the 1st quarter. California Public Employees Retirement System now owns 115,782 shares of the biopharmaceutical company’s stock worth $3,366,000 after purchasing an additional 12,382 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Insmed by 5.1% during the 1st quarter. Alps Advisors Inc. now owns 187,286 shares of the biopharmaceutical company’s stock worth $5,444,000 after purchasing an additional 9,125 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Insmed by 18.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 487,112 shares of the biopharmaceutical company’s stock worth $14,160,000 after purchasing an additional 76,038 shares during the last quarter. Finally, Emerald Advisers LLC lifted its position in shares of Insmed by 52.8% during the 1st quarter. Emerald Advisers LLC now owns 921,527 shares of the biopharmaceutical company’s stock worth $26,789,000 after purchasing an additional 318,482 shares during the last quarter.

Several equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Insmed from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 28th. BidaskClub cut shares of Insmed from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Insmed from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. HC Wainwright reiterated a “buy” rating and set a $52.00 price target (up from $43.00) on shares of Insmed in a research note on Tuesday, April 9th. Finally, Canaccord Genuity set a $44.00 price target on shares of Insmed and gave the stock a “buy” rating in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Insmed has a consensus rating of “Buy” and an average target price of $37.88.

NASDAQ:INSM traded up $0.18 during midday trading on Monday, hitting $25.78. 632,606 shares of the company were exchanged, compared to its average volume of 984,339. The stock has a fifty day moving average of $25.68. Insmed Incorporated has a fifty-two week low of $11.31 and a fifty-two week high of $33.13. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $2.03 billion, a P/E ratio of -6.18 and a beta of 2.83.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.02). The business had revenue of $21.90 million for the quarter, compared to the consensus estimate of $19.61 million. On average, equities analysts anticipate that Insmed Incorporated will post -3.65 earnings per share for the current fiscal year.

In other Insmed news, Director Donald J. Hayden, Jr. sold 6,286 shares of Insmed stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $32.99, for a total value of $207,375.14. Following the transaction, the director now directly owns 68,483 shares in the company, valued at $2,259,254.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of Insmed stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total transaction of $278,880.00. Following the completion of the sale, the insider now directly owns 36,350 shares in the company, valued at approximately $844,774. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 418,286 shares of company stock worth $10,886,255. 4.95% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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